Slightly Under One-Third of 2024 Home Purchases Were All-Cash Sales
WRE NEWS February 19, 2025
Seller
WRE NEWS February 19, 2025
Seller
Slightly under one-third (32.6%) of home purchases in 2024 were all-cash transactions, according to new data from Redfin (NASDAQ: RDFN). This is down from 35.1% in 2023 and the lowest share since 2021.
Prior to the pandemic, the share of all-cash sales ranged from 25% to 30%. Redfin attributed last year’s decline to a smaller quantity of investors making purchases compared to previous years.
“The rate of all-cash sales remains high because when housing is expensive – like it is now – wealthier Americans who can afford to pay cash are more likely than lower-income Americans to be buying homes,” said Redfin Senior Economist Sheharyar Bokhari. “We are unlikely to see the share of all-cash purchases fall much lower in 2025, unless mortgage rates drop enough to drive a significant increase in sales.”
Florida metros had the highest share of cash homebuyers out of the markets Redfin analyzed, most notably in West Palm Beach (49.6%) and Jacksonville (40.6%). California’s Bay Area had the lowest share of all-cash buyers with San Jose (18.1%) and Oakland (18.6%).
Stay up to date on the latest real estate trends.
Buyer
November 7, 2025
There’s been a lot of talk lately about how a government shutdown impacts the housing market.
Buyer
November 6, 2025
If you’re looking for a great place to live, you might want to check out Utah.
Seller
November 6, 2025
If you’ve seen headlines about home prices dropping, it’s easy to wonder what that means for the value of your home too.
Buyer
November 5, 2025
Seller
November 4, 2025
If there was one simple step that could help make your home sale a seamless process, wouldn't you want to know about it?
Buyer
November 3, 2025
If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today