Year-round sunshine comes at a cost, but deep-pocketed buyers in Miami are willing to pay — in cash.

More than half of homes prices above $1 million in the Miami metro are trading for cash, according to new Realtor.com data, the outlet reported. 5

5

While the average homebuyer is anxiously waiting for mortgage rates to drop, deep-pocketed buyers are splashing out on palm-lined dream homes along Biscayne Bay.

In Miami, 53.5% of homes priced between $1 million and $5 million are selling for cash, according to the report. That number increases with each eye-watering price tier, according to data from the firm Analytics Miami, rising all the way up to nearly 59% all-cash deals for homes selling at $10 million or more.

High-net-worth buyers enjoy plenty of liquidity and easy access

See Full Page