Cash buyers are stepping back from Miami’s real estate market after their pandemic-era shopping spree. In 2024, about 38% of Miami-area homes were purchased with cash, down from 42% in 2023, according to recent data. While the decline signals a shift, the share of cash transactions remains historically high both in Miami and nationwide.

A Redfin analysis shows that across the U.S., the percentage of cash home purchases dropped to just under one-third last year, the lowest ...