News Releases
Because of the pandemic-driven recession, mortgage rates are at record lows this year, dropping as low as an average of 2.71%.
"With interest payments lower than ever before, many homebuyers would prefer taking out a home loan and putting their cash somewhere else, like the stock market, emergency savings accounts or home renovations," said Redfin chief economist
In
"Buyers are flocking to
"
Metro area |
Share of home sales that |
Share of home sales that |
Median sale |
|
48.9% |
36.2% |
|
|
41.0% |
42.9% |
|
|
40.3% |
42.8% |
|
|
39.8% |
43.6% |
|
|
33.4% |
36.5% |
|
|
30.8% |
34.9% |
|
|
30.1% |
33.6% |
|
|
29.4% |
31.7% |
|
|
27.6% |
28.1% |
|
|
27.2% |
30.6% |
|
|
26.8% |
27.9% |
|
|
26.1% |
28.8% |
|
|
26.1% |
31.1% |
|
|
25.8% |
29.1% |
|
|
25.6% |
26.6% |
|
|
25.2% |
27.3% |
|
|
23.8% |
22.7% |
|
|
23.7% |
23.2% |
|
|
23.2% |
28.4% |
|
|
23.0% |
25.8% |
|
|
22.3% |
25.7% |
|
|
21.6% |
20.4% |
|
|
21.1% |
20.8% |
|
|
20.4% |
20.3% |
|
|
20.1% |
22.6% |
|
|
19.6% |
19.8% |
|
|
18.6% |
23.9% |
|
|
18.5% |
21.1% |
|
|
17.9% |
14.1% |
|
|
17.8% |
17.2% |
|
|
16.6% |
17.7% |
|
|
16.5% |
16.6% |
|
|
15.6% |
17.1% |
|
|
15.2% |
17.9% |
|
|
15.1% |
16.2% |
|
|
13.8% |
13.4% |
|
|
13.1% |
13.1% |
|
To view the full report, with additional charts and data, please visit: https://www.redfin.com/news/all-cash-home-purchases-smallest-share-since-2007
About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country's #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
View original content to download multimedia:http://www.prnewswire.com/news-releases/24-of-homes-sold-this-year-were-bought-with-all-cash-the-smallest-share-in-13-years-301196002.html
SOURCE Redfin
Redfin Journalist Services: Angela Cherry, 913-638-8249, press@redfin.com