{"id":513678,"date":"2021-07-15T11:38:10","date_gmt":"2021-07-15T15:38:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/"},"modified":"2021-07-15T11:38:10","modified_gmt":"2021-07-15T15:38:10","slug":"share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/","title":{"rendered":"Share of Homes Bought With All Cash Hits 30% for First Time Since 2014"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Redfin analysis finds affluent American homebuyers benefit from a surging stock market and the flexibility to relocate to more affordable parts of the country<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SEATTLE<\/span>, <span class=\"xn-chron\">July 15, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 Nearly one-third (30%) of U.S. home purchases this year were paid for with all cash, according to an analysis from Redfin (<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3229198-1&amp;h=3361857319&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener\">www.redfin.com<\/a><\/u>), the technology-powered real estate brokerage. That&#8217;s up from 25.3% during all of 2020 and represents the largest share since 2014, when 30.6% of homes were purchased with all cash. Redfin analyzed county records published from <span class=\"xn-chron\">January 2021<\/span> to <span class=\"xn-chron\">April 2021<\/span>. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg\" title=\"Redfin Logo (PRNewsfoto\/Redfin)\" alt=\"Redfin Logo (PRNewsfoto\/Redfin)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Cash purchases are on the rise as Americans reap the benefits of a strong stock market. The S&amp;P 500 Index has gained 36% in the past 12 months alone, as of <span class=\"xn-chron\">July 14, 2021<\/span>. <\/p>\n<p>&#8220;I&#8217;ve never seen more cash in <span class=\"xn-location\">Boise&#8217;s<\/span> housing market than I&#8217;ve seen in the past year,&#8221; said <span class=\"xn-person\">Shauna Pendleton<\/span>, a Redfin real estate agent in <span class=\"xn-location\">Idaho<\/span>. &#8220;I just sold a <span class=\"xn-money\">$700,000<\/span> home to a cash buyer last week. The entire <span class=\"xn-money\">$700,000<\/span> came from his E*Trade account.&#8221;<\/p>\n<p>Additionally, remote work has allowed homeowners in expensive cities, including <span class=\"xn-location\">San Francisco<\/span> and <span class=\"xn-location\">New York<\/span>, to sell their homes and move to less expensive areas, where they can often afford to buy properties in cash.<\/p>\n<p>&#8220;Affluent homeowners in <span class=\"xn-location\">Seattle<\/span>, <span class=\"xn-location\">Portland<\/span> and parts of <span class=\"xn-location\">California<\/span> are selling their homes for <span class=\"xn-money\">$1 million<\/span> or <span class=\"xn-money\">$2 million<\/span>,&#8221; Pendleton said. &#8220;Then they&#8217;re coming to <span class=\"xn-location\">Boise<\/span>, where they&#8217;re buying houses that are twice the size for half the price.&#8221;<\/p>\n<p>Investors, who often pay in cash, are wading back into the housing market after pressing pause at the onset of the pandemic. U.S. home purchases by investors rose 2.7% year over year in the first quarter, marking the first period of growth since the coronavirus pandemic began.<\/p>\n<p>The rise in all-cash home purchases is posing challenges for many first-time and lower-income homebuyers, who are having trouble competing with cash offers. While competition is easing slightly, about two-thirds of home offers written by Redfin agents still face bidding wars.<\/p>\n<p>\n        <b><br \/>\n          <b>In Parts of <span class=\"xn-location\">Florida<\/span>, More Than Half of Homes That Have Sold This Year Were Bought With Cash<\/b><br \/>\n        <\/b>\n      <\/p>\n<p>In the <span class=\"xn-location\">West Palm Beach, FL<\/span> metro area, 52.6% of home purchases this year were paid for with all cash. That&#8217;s the largest share of the 86 metropolitan areas in Redfin&#8217;s analysis. Metros must have had at least 3,000 recorded home sales from <span class=\"xn-chron\">Jan. 1, 2021<\/span> and <span class=\"xn-chron\">April 30, 2021<\/span> to be included in this report. <span class=\"xn-location\">West Palm Beach<\/span> was followed by <span class=\"xn-location\">Naples, FL<\/span> (52.5%), <span class=\"xn-location\">Nassau County, NY<\/span> (50.2%), <span class=\"xn-location\">North Port, FL<\/span> (49.4%), <span class=\"xn-location\">Port St. Lucie, FL<\/span> (46.2%), <span class=\"xn-location\">Greenville, SC<\/span> (45.4%), <span class=\"xn-location\">Palm Bay, FL<\/span> (44.1%), <span class=\"xn-location\">Cape Coral, FL<\/span> (44.1%), <span class=\"xn-location\">Des Moines, IA<\/span> (41%) and <span class=\"xn-location\">Jacksonville, FL<\/span> (40.1%).<\/p>\n<p>&#8220;<span class=\"xn-location\">Florida<\/span> is a big second-home market, and second-home buyers often pay with cash,&#8221; said <span class=\"xn-person\">Dina Blau<\/span>, a Redfin real estate agent in the <span class=\"xn-location\">West Palm Beach<\/span> area. &#8220;During the pandemic, folks also flocked to <span class=\"xn-location\">Florida<\/span> to buy primary homes. They sold their houses in <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">New Jersey<\/span>, <span class=\"xn-location\">Chicago<\/span> or <span class=\"xn-location\">California<\/span> and used the proceeds to pay cash for properties in <span class=\"xn-location\">Florida<\/span>.&#8221;<\/p>\n<p>\n        <b>California Has Lowest Share of Cash Transactions<\/b>\n      <\/p>\n<p>Expensive <span class=\"xn-location\">California<\/span> metros, where it&#8217;s more challenging to pay with cash because home prices are relatively high, were at the bottom of the list. In both <span class=\"xn-location\">San Jose, CA<\/span> and <span class=\"xn-location\">Oakland, CA<\/span>, 12.5% of reported home purchases this year used all cash\u2014the lowest share of the metros Redfin analyzed. Next came <span class=\"xn-location\">Richmond, VA<\/span> (16%), <span class=\"xn-location\">Los Angeles<\/span> (16%), <span class=\"xn-location\">San Diego<\/span> (16.2%), <span class=\"xn-location\">Lake County, IL<\/span> (17.2%), <span class=\"xn-location\">Sacramento<\/span> (17.7%), <span class=\"xn-location\">San Francisco<\/span> (17.8%), <span class=\"xn-location\">Oxnard, CA<\/span> (18%) and <span class=\"xn-location\">Bakersfield, CA<\/span> (19.3%).<\/p>\n<p>Still, buyers in <span class=\"xn-location\">California<\/span> aren&#8217;t out of the woods, according to <span class=\"xn-person\">Steven Moore<\/span>, a Redfin real estate agent in <span class=\"xn-location\">Los Angeles<\/span>.<\/p>\n<p>&#8220;I recently put in a <span class=\"xn-money\">$1.8 million<\/span> offer on a home that was listed at <span class=\"xn-money\">$1.7 million<\/span>,&#8221; Moore said. &#8220;The top 10 offers\u2014out of 40 total\u2014all came in at around <span class=\"xn-money\">$2 million<\/span> and were all cash.&#8221;<\/p>\n<p>To read the full report, complete with metro-level data and methodology, please visit: <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3229198-1&amp;h=1612805911&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fall-cash-home-purchases-2021&amp;a=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fall-cash-home-purchases-2021\" rel=\"nofollow noopener\">https:\/\/www.redfin.com\/news\/all-cash-home-purchases-2021<\/a><\/u>. <\/p>\n<p>\n        <b>About Redfin <\/b>\n      <\/p>\n<p>Redfin (<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3229198-1&amp;h=3361857319&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener\">www.redfin.com<\/a><\/u>) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. We sell homes for more money and charge half the fee. We also run the country&#8217;s #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Since launching in 2006, we&#8217;ve saved customers more than <span class=\"xn-money\">$1 billion<\/span> in commissions. We serve more than 95 markets across the U.S. and <span class=\"xn-location\">Canada<\/span> and employ over 4,100 people. <\/p>\n<p>For more information or to contact a local Redfin real estate agent, visit <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3229198-1&amp;h=3361857319&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener\">www.redfin.com<\/a><\/u>. To learn about housing market trends and download data, visit the <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3229198-1&amp;h=1156894031&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fdata-center%2F&amp;a=Redfin+Data+Center\" rel=\"nofollow noopener\">Redfin Data Center<\/a><\/u>. To be added to Redfin&#8217;s press release distribution list, email <u><a target=\"_blank\" href=\"mailto:press@redfin.com\" rel=\"nofollow noopener\">press@redfin.com<\/a><\/u>. To view Redfin&#8217;s press center, <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3229198-1&amp;h=2849510264&amp;u=http%3A%2F%2Fpress.redfin.com%2Fphoenix.zhtml%3Fc%3D252734%26p%3Dirol-overview&amp;a=click+here\" rel=\"nofollow noopener\">click here<\/a><\/u>.<\/p>\n<p>Redfin-F<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF44421&amp;sd=2021-07-15\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014-301334931.html\">https:\/\/www.prnewswire.com\/news-releases\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014-301334931.html<\/a><\/p>\n<p>SOURCE  Redfin<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF44421&amp;Transmission_Id=202107151134PR_NEWS_USPR_____SF44421&amp;DateId=20210715\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Redfin analysis finds affluent American homebuyers benefit from a surging stock market and the flexibility to relocate to more affordable parts of the country PR Newswire SEATTLE, July 15, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 Nearly one-third (30%) of U.S. home purchases this year were paid for with all cash, according to an analysis from Redfin (www.redfin.com), the technology-powered real estate brokerage. That&#8217;s up from 25.3% during all of 2020 and represents the largest share since 2014, when 30.6% of homes were purchased with all cash. Redfin analyzed county records published from January 2021 to April 2021. Cash purchases are on the rise as Americans reap the benefits of a strong stock market. The S&amp;P 500 Index has gained 36% in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Share of Homes Bought With All Cash Hits 30% for First Time Since 2014&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-513678","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Share of Homes Bought With All Cash Hits 30% for First Time Since 2014 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Share of Homes Bought With All Cash Hits 30% for First Time Since 2014 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Redfin analysis finds affluent American homebuyers benefit from a surging stock market and the flexibility to relocate to more affordable parts of the country PR Newswire SEATTLE, July 15, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 Nearly one-third (30%) of U.S. home purchases this year were paid for with all cash, according to an analysis from Redfin (www.redfin.com), the technology-powered real estate brokerage. That&#8217;s up from 25.3% during all of 2020 and represents the largest share since 2014, when 30.6% of homes were purchased with all cash. Redfin analyzed county records published from January 2021 to April 2021. Cash purchases are on the rise as Americans reap the benefits of a strong stock market. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/","og_locale":"en_US","og_type":"article","og_title":"Share of Homes Bought With All Cash Hits 30% for First Time Since 2014 - Market Newsdesk","og_description":"Redfin analysis finds affluent American homebuyers benefit from a surging stock market and the flexibility to relocate to more affordable parts of the country PR Newswire SEATTLE, July 15, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 Nearly one-third (30%) of U.S. home purchases this year were paid for with all cash, according to an analysis from Redfin (www.redfin.com), the technology-powered real estate brokerage. That&#8217;s up from 25.3% during all of 2020 and represents the largest share since 2014, when 30.6% of homes were purchased with all cash. Redfin analyzed county records published from January 2021 to April 2021. Cash purchases are on the rise as Americans reap the benefits of a strong stock market. The S&amp;P 500 Index has gained 36% in &hellip; Continue reading \"Share of Homes Bought With All Cash Hits 30% for First Time Since 2014\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-15T15:38:10+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Share of Homes Bought With All Cash Hits 30% for First Time Since 2014","datePublished":"2021-07-15T15:38:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/"},"wordCount":826,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/share-of-homes-bought-with-all-cash-hits-30-for-first-time-since-2014\/","name":"Share of Homes Bought With All Cash Hits 30% for First Time Since 2014 - 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