South Florida, Jacksonville housing markets lead nation in all-cash home purchases
By WLRN News Staff
February 20, 2026 at 6:15 AM EST
As 2025 came to a close, the U.S. housing market saw all-cash purchases hit a five-year low. Not in Florida, however.
According to a new report from Redfin, Miami, West Palm Beach and Jacksonville metro areas continue to dominate the country in cash-heavy transactions, even as high mortgage rates begin to stabilize.
Nationally, just 29% of homebuyers paid in all cash in December, the lowest share for that month since 2020. This decline is largely attributed to the "strongest buyer's market in recent history," where a 47% surplus of sellers has reduced the need for buyers to use cash as a competitive lever.
While the national trend is downward, Florida’s major markets are still seeing a massive influx of cash. West Palm Beach led the entire country, with 47.2% of all buyers paying in cash. Miami and Jacksonville followed closely behind, tied at 39.3%. Fort Lauderdale metro was almost 36%.
These figures stand in stark contrast to West Coast tech hubs like Seattle, where the cash share sits at just 17.3%.
The persistence of cash in Florida is driven by sellers who are increasingly desperate for fast closings as inventory sits.
“The leverage buyers have when they pay in cash is unbelievable,” says Amanda Peterson, a Redfin Premier agent. “It’s not uncommon to see a buyer score a home for 10-20% below the appraised value if they offer cash.”
Shift in financing
The report also highlighted a struggle for entry-level buyers. In Florida, rising costs beyond the sticker price are pushing many out of the market, according to John Tomlinson, a Redfin Premier agent in Fort Lauderdale.
“A lot of homebuyers—especially FHA buyers—are getting cold feet when they see the actual monthly payment and the amount of money they need to bring to the table at closing,” Tomlinson said. “Rising HOA fees are adding insult to injury.”
While cash remains king in the Sunshine State, Jacksonville is seeing a diversification in lending, recording some of the highest shares of VA loans (19.6%) in the country as veterans take advantage of the cooling competition.
According to a new report from Redfin, Miami, West Palm Beach and Jacksonville metro areas continue to dominate the country in cash-heavy transactions, even as high mortgage rates begin to stabilize.
Nationally, just 29% of homebuyers paid in all cash in December, the lowest share for that month since 2020. This decline is largely attributed to the "strongest buyer's market in recent history," where a 47% surplus of sellers has reduced the need for buyers to use cash as a competitive lever.
While the national trend is downward, Florida’s major markets are still seeing a massive influx of cash. West Palm Beach led the entire country, with 47.2% of all buyers paying in cash. Miami and Jacksonville followed closely behind, tied at 39.3%. Fort Lauderdale metro was almost 36%.
These figures stand in stark contrast to West Coast tech hubs like Seattle, where the cash share sits at just 17.3%.
The persistence of cash in Florida is driven by sellers who are increasingly desperate for fast closings as inventory sits.
“The leverage buyers have when they pay in cash is unbelievable,” says Amanda Peterson, a Redfin Premier agent. “It’s not uncommon to see a buyer score a home for 10-20% below the appraised value if they offer cash.”
Shift in financing
The report also highlighted a struggle for entry-level buyers. In Florida, rising costs beyond the sticker price are pushing many out of the market, according to John Tomlinson, a Redfin Premier agent in Fort Lauderdale.
“A lot of homebuyers—especially FHA buyers—are getting cold feet when they see the actual monthly payment and the amount of money they need to bring to the table at closing,” Tomlinson said. “Rising HOA fees are adding insult to injury.”
While cash remains king in the Sunshine State, Jacksonville is seeing a diversification in lending, recording some of the highest shares of VA loans (19.6%) in the country as veterans take advantage of the cooling competition.