Jacksonville FL ranks 8th in cash purchases

8. Jacksonville, Fla.
> Pct. cash  sales: 51.5%
> Median list price: $169,900 (40th  lowest)
> Pct. institutional sales: 12.5% (3rd  highest)

Institutional investors bought 12.5% of all homes sold in Jacksonville during  the second quarter of 2014, the third highest among metro areas reviewed.  Additionally, home prices were low relative to national prices as well as the  area’s historical levels. The median  home  price was just under $170,000 as of July 2014, unchanged from the year before and  lower than in the majority of large metro areas, according to RealtyTrac. These  factors may have attracted all-cash purchasers to the area. All-cash  transactions rose from 47.4% of all sales in the second quarter of 2013 to 51.5%  in the second quarter of this year.

Read more:  10 Cities Where Homebuyers Pay Cash - 24/7 Wall St. http://247wallst.com/special-report/2014/09/16/10-cities-where-homebuyers-pay-cash/#ixzz3DUaGt6bH
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