Lickstein speaks to the Herald Times about Florida leading the Nation in Cash Real Estate Deals.
Herald Times
Florida’s real estate market is seeing an increase in cash transactions. Cities like West Palm Beach, Jacksonville, and Tampa Bay are taking the lead with nearly 50% of homes fully bought in cash. The increase in cash transactions has fueled Florida’s ultraluxury market. Experts believe international investments from Latin America are at their root.
Jonathan Lickstein, president of Broward, Palm Beaches & St. Lucie Realtors®, told the Herald Times: “What we saw from the pandemic coming forward was a big trend of people selling their homes in the Northeast or other places that had higher valuations and leveraging that equity, [buyers] are “taking the equity from a condo, a loft in Manhattan, and taking that into a single family home, with a bigger space, and higher living quality in South Florida.”