Cash Buyers Dominated in These 10 Housing Markets

Want to buy your first home? Cash is king, according to ATTOM. On average 38% of home sales nationally in 2023 were cash sales, the company reported – the third successive uptick since 2021. Indeed, in 10 MSAs cash buyers represented more than 50% of all home purchases. It is a pattern that could influence future market dynamics, ATTOM stated, noting “the data from these MSAs can serve as a bellwether for real estate professionals, investors and policymakers.” It expects them to closely monitor changes in demand and homebuyer preferences and to try to understand how economic policies affect real estate.

ATTOM thinks the trend may be due to a post-pandemic economic recovery – or to a significant influx of investors into the housing market. Whatever the reason, at least some of the 10 MSA’s cited have housing markets that have been identified as underpriced by www.gobankingrates.com.