Fewer people paying cash for homes in Miami-Dade

The percentage of people paying cash for homes in Miami-Dade County continues to fall, likely reflecting the impact of currency crises abroad on foreign buyers.

Cash sales made up 56.8 percent of local deals in April 2015, down from 62.4 percent in April 2014, according to a report released Thursday by the property analytics firm CoreLogic.

International buyers — who are more likely to pay in cash — have fueled Miami’s real estate boom. But plummeting currencies in Latin America and Europe and a strong American dollar have made it harder for foreigners to afford Miami’s rising home prices.

Nationally, cash sales accounted for 33.7 percent of all transactions.

This story was originally published July 16, 2015 at 3:12 PM with the headline "Fewer people paying cash for homes in Miami-Dade."