Alabama led the nation in all-cash home sales in July, according to a new report.

Alabama led all states with all-cash sales during the month of July with 47 percent of transactions being all-cash.

The website, 24/7 Wall Street, is reporting that 47.4 percent of all home sales in Alabama during July were all-cash transactions.

This was the most of any state, including Florida, which came in second at 44.7 percent. New York cash sales made up 42.8 percent of all home sales in July, according to the report.

Nationally, cash sales made up 30.8 percent of all home sales, which was 3.4 percent below last July and 0.5 percent below June’s cash sales.

The leading areas for all-cash sales in the top 100 metros in the U.S. were all in Florida, including West Palm Beach, Miami, North Port Sarasota, Fort Lauderdale and Cape Coral.

Real estate-owned properties made up 56 percent of all-cash sales nationwide, while resales and short sales made up 30.2 percent and 28 percent of all-cash sales.

Cash sales for new homes made up 15.6 percent of cash sales in July nationwide.

The month with the highest cash sales volume was January 2011 when it reached 46.5 percent.

Bryan Davis is the research/media coordinator for the Alabama Center for Real Estate housed within the Culverhouse College of Commerce at the University of Alabama. He can be reached at 205-348-5416 or at bkdavis@culverhouse.ua.edu. The Alabama Center for Real Estate‘s core purpose is to advance the real estate industry in Alabama by providing relevant resources in the areas of research, education and outreach.

See more at: https://alabamanewscenter.com/category/business/real-estate/