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Slightly Under One-Third of 2024 Home Purchases Were All-Cash Sales

WRE NEWS February 19, 2025

Seller

Slightly Under One-Third of 2024 Home Purchases Were All-Cash Sales

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%).

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Slightly Under One-Third of 2024 Home Purchases Were All-Cash Sales

Recent Blog Posts

Report: National Median Home Price at $389,000, Up 2.4%

Mortgage Rates Just Saw Their Biggest Drop in a Year

For Sale: 671 Live Oak Ave, Menlo Park, CA 94025

Everything to Plant This Fall, According to the Old Farmer’s Almanac

How Fall Buyers Can Use Year-End to Their Advantage for a Better Deal

How To Invest In Your Business When An Exit Is On The Horizon

We are Your GPS to Success Let’s Get Started

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