"All-cash offers have cemented their place as a formidable force in the U.S. housing market, accounting for nearly one in three home purchases in the first half of 2025, according to the latest analysis from Realtor.com. The data reveals that about 32.8% of home sales so far this year were completed fully in cash-a figure only slightly lower than last year, but significantly above pre-pandemic norms. These transactions are "especially common at the extreme ends of the price spectrum," writes senior economic research analyst Hannah Jones,"
"Central to this phenomenon is the growing role of two groups, Jones concludes: investors and second-home buyers. Institutional investors, in particular, have continued to leverage their financial heft, making swift, uncompromising offers-often without the need for financing. Jones' analysis of deed data suggests to her that LLC and corporate entities make up a "disproportionate share" of cash transactions, she says, followed by second-home buyers, particularly in vacation markets."
All-cash offers accounted for about 32.8% of U.S. home sales in the first half of 2025, well above pre-pandemic norms and only slightly below last year’s level. Cash purchases concentrate at the high and low ends of the price spectrum and vary widely by region. Investors and second-home buyers drive a large share of cash deals, with LLCs and corporate entities particularly prominent and vacation markets attracting many second-home cash buyers. The cash share rose from 27.5% in 2019 to 34% in 2023 before easing, likely due to fewer large investors and reduced bidding intensity, though investor presence remains elevated.
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