About one-third of U.S. home purchases were paid in cash.
Nearly one-third (31.9%) of U.S. home purchases were paid for with all cash in
October, according to a report from Redfin. That’s up from 29.9% a year earlier
and the highest share since 2014.
All-cash home purchases increased in 29 of the 39 metros in Redfin’s analysis
from October 2021 to October 2022. They increased most in Riverside, Calif.,
where they rose to 38% of all home sales from 19.2%. The lowest share of
all-cash purchases was in the West coast market, especially in the Bay Area of
California. Just 14.3% of home purchases in San Jose and 16.5% in Oakland were
paid in cash.
Source: National Mortgage Professionals
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