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Big cities where most home buyers are paying cash -- no mortgage

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In this city, 69 percent of home buyers paid all cash last month.

All-cash home sales jumped in August, making up nearly half of residential real estate transactions, according to data just released by the real estate data firm RealtyTrac.

Last month, 45 percent of sales were all cash. The last time the nation cracked the 40 percent barrier for all-cash sales was more than a year ago. All-cash transactions are at the highest level they've been since March 2012, when they hit 52%. And in the following 11 big metro areas last month with populations of a million or more, most home sales were all-cash transactions, RealtyTrac reported Thursday.

11. New Orleans-Metairie-Kenner, LA

Percentage of sales that were all cash in August: 51%
… in July: 36%
… a year ago, in August 2012: 34%


10. Atlanta-Sandy Springs-Marietta, GA

Percentage of sales that were all cash in August: 52%
… in July: 49%
… a year ago, in August 2012: 36%

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(tie) 8. Memphis, TN-MS-AR

Percentage of sales that were all cash in August: 53%
… in July: 40%
… a year ago, in August 2012: 44%

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(tie) 8. Cincinnati-Middletown, OH-KY-IN

Percentage of sales that were all cash in August: 53%
… in July: 42%
… a year ago, in August 2012: 35%


7. Kansas City, MO-KS

Percentage of sales that were all cash in August: 54%
… in July: 34%
… a year ago, in August 2012: not available

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6. Orlando-Kissimmee, FL

Percentage of sales that were all cash in August: 63%
… in July: 55%
… a year ago, in August 2012: 43%

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5. Tampa-St. Petersburg-Clearwater, FL

Percentage of sales that were all cash in August: 64%
… in July: 60%
… a year ago, in August 2012: 53%

[Also on Yahoo Homes: The best cities for flipping homes right now (No. 4: Tampa)]


4. Jacksonville, FL

Percentage of sales that were all cash in August: 65%
… in July: 61%
… a year ago, in August 2012: 47%

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3. Las Vegas-Paradise, NV

Percentage of sales that were all cash in August: 66%
… in July: 68%
… a year ago, in August 2012: 52%

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2. Detroit-Warren-Livonia, MI

Percentage of sales that were all cash in August: 68%
… in July: 59%
… a year ago, in August 2012: 59%

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1. Miami-Fort Lauderdale-Pompano Beach, FL

Percentage of sales that were all cash in August: 69%
… in July: 67%
… a year ago, in August 2012: 62%

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