All-cash home purchases continue to make up a major share of all home sales than they did before the pandemic, representing 32.6% of all houses purchased in 2024. However, that figure was 2.5% below the level of 35.1% recorded in 2023, and the lowest since 2021, according to a new report from Redfin.
The real estate firm attributed the drop to a decrease in the number of homes bought by investors, who make up a big share of all-cash buyers. It found the number of all-cash home sales nationwide fell to its lowest level since 2014, as the housing market in general slowed.
“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.”
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