Less Than One-Third of U.S. Home Purchases Were Made With Cash in 2024, a 3-Year Low
Redfin reports the share of home purchases made in cash fell to a three-year low as the total number of all-cash purchases dropped to its lowest level in a decade
Redfin’s report is based on its analysis of county-level home purchase records across 40 of the most populous
One reason the share of cash purchases fell was because investors—who make up a significant proportion of all-cash buyers—bought fewer homes than they did during the past few 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.”
The number of all-cash home sales dropped to its lowest level in at least a decade in 2024 as total home sales fell to historic lows.
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Metro |
Share of All-Cash Purchases (2024) |
2023→2024 YoY Change (percentage points) |
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-1.2 ppts |
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|
-6.4 ppts |
|
|
-8.3 ppts |
|
|
-2.5 ppts |
|
|
-3.8 ppts |
Next came
Expensive coastal metros had the lowest share of all-cash buyers, led by
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Metro |
Share of All-Cash Purchases (2024) |
2023→2024 YoY Change (percentage points) |
|
|
-0.8 ppts |
|
|
1 ppt |
|
|
0.1 ppts |
|
|
-0.7 ppts |
|
|
0.2 ppts |
The share of all-cash purchases increased most from a year earlier in
To view the full report, including charts, additional metro-level data and full methodology, please visit: https://www.redfin.com/news/all-cash-sales-annual-2024
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250218326934/en/
Redfin Journalist Services:
Angela Cherry
press@redfin.com
Source: Redfin