Newspaper article Sarasota Herald Tribune

Most Housing Sales in Sarasota-Manatee Area Are Still Cash-Only

Newspaper article Sarasota Herald Tribune

Most Housing Sales in Sarasota-Manatee Area Are Still Cash-Only

Article excerpt

REAL ESTATE INVESTORS

Cash buyers remain major players in the Southwest Florida housing market.

The Sarasota-Manatee area ranked fifth among the largest U.S. metro areas for cash deals at the end of 2015, according to a new report by data provider CoreLogic.

Cash sales accounted for 51 percent of all home deals in the two counties, CoreLogic said, reinforcing other reports that buying without borrowing is still the most popular way to acquire residential real estate here.

That was up from 47.2 percent in September, but down from 54.3 percent one year earlier.

Cash buyers have dominated the regional real estate market for several years, even leading the nation for the top share early last year.

While the impact of large institutional investors -- who dominated the market during its early rebound -- has slowed, smaller investors have become more active. …

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