Massachusetts ranks far below the national average in the percentage of homes purchased with cash, according to a new report by CoreLogic. Fewer than one in five Bay State homes is a cash deal. The national average is about one in three. Across the U.S. the percentage of cash transactions dropped slightly from one year ago from 35.9 percent to 32.5 percent.
The highest percentage of cash sales is in Alabama with nearly half, followed by W. Virginia, Florida and New York. Maine, Colorado and California join Massachusetts on the extreme low end. As the CoreLogic map below shows, data for Vermont and Nebraska was incomplete.
In metropolitan areas, Miami leads the nation with 58.8 percent of all homes purchased with cash. Syracuse, NY, with annual property taxes that approach nearly 4 percent of the market value of a home, has the lowest, just 14.1 percent.
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