10 Markets Where Cash Sales Are Rising the Most

Source

More buyers are bringing just cash to closing. All-cash purchases in the first quarter comprised 34% of all single-family sales—the highest level since the first quarter of 2015, according to a new report from ATTOM Data Solutions, a housing research firm.

As home buyers race to compete in a fierce housing market marked by bidding wars, more buyers are bringing cash to try to triumph over the competition. The tactic has been shown to work for those who can afford to do so. Read more: All-Cash Buyers More Likely to Win Bidding Wars

Cash sales represented the largest share of all transactions in the first quarter in Flint, Mich.—comprising 61.8% of all home sales, according to ATTOM Data Solutions’ findings. Detroit, Mich., had the next highest at 61.5% of sales, followed by Utica, N.Y. (54.8%); Naples, Fla. (54.4%); and Ann Arbor, Mich. (53%).

Several housing markets are seeing a rapid increase in the number of cash sales in their markets. The following chart shows the housing leaders with the largest upticks.

A bar chart showing the increase in cash sales in 10 U.S. metros.

On the other hand, the markets where cash sales comprised the smallest share of transactions in the first quarter were: Kennewick, Wash. (17.2%); Augusta, Ga. (17.9%); Lincoln, Neb. (18.1%); Washington, D.C. (19.4%); and San Jose, Calif. (19.4%).

Source: 

Top 10 U.S. Metros Where Cash Home Sales Are on the Rise,” ATTOM Data Solutions (April 29, 2022)

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Sabrina & Susan are native Californians - born and raised in the Silicon Valley with a passion for Residential Real Estate. A mother and daughter-in-law duo called - The Caton Team. With over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text at: 650-799-4333 | Email Info@TheCatonTeam.com The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. The Peninsula is our backyard - let us help make it yours. We represent Buyer’s and Seller’s throughout the Bay Area. The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?

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