More Florida home buyers paying cash as prices rise, inventory shrinks, inflation continues

TAMPA, Fla. (WFLA) — Home sale prices keep going up, but the available inventory is down – at least according to Florida Realtors’ latest study of the housing market in the Sunshine State. In the last quarter, the number of buyers paying for their new homes in cash went up by almost half.

The median cost of home purchases in Florida for the 2021 third quarter was about $355,000. Buyers looking for condos instead of houses paid around $254,900. Across both segments, cash payments were up.

For single-family homes, 45.5 percent more buyers paid cash than in 2020. The number of condo buyers paying cash went up 33.2 percent. While more people paid cash, the inventory dropped, with 29.2 percent fewer active listings of single-family homes in the 2021 third quarter than 2020. Condo listings dropped even more, at 52.2 percent fewer available.
Building Roof by Elvert Barnes is licensed under Flickr CC BY-SA 2.0
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