More Manhattan Homebuyers Paying Cash in Sign of Luxury Strength
Share of purchases without financing jumps to almost two-thirds of all deals, a record high in nine years of data-keeping.
Residential skyscrapers near Central Park in Manhattan.
Photographer: Amir Hamja/BloombergThis article is for subscribers only.
More Manhattan homebuyers are paying cash than at any other time on record.
About 65% of purchases in the three months through June were completed without financing, up from 57% in the first quarter and the largest share since appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate began tracking payment methods in 2014.