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Part of the “craziness” is the way people are buying homes. “Right now, we’re seeing a lot of cash offers,” said Carey Baker, the county’s property appraiser. Some of the movement comes from people who have sold their homes up north, so they are flush with cash. In May, 28% of closed sales were in cash, according to Florida Realtors in their Lake County statistics. Last May, 72 people paid cash for a home. This year, it was 184 a 155.6% increase. “Cash is always king,” Hampton said, But it s putting the squeeze on some buyers. “I had one buyer who was interested in seven different houses before finally getting a contract on the eighth by paying $45,000 above the asking price,” Hampton said.

United statesNew yorkLake countyTimes squareCrystal riverSteve richeyCarey bakerLinda floreaFrank stanfieldAdam edgingtonDoug hamptonGreg beliveauDon magruderFlorida legislature office of economicDemographic researchFlorida realtors