Am I competing with cash buyers?

How often buyers pay cash

In some markets, a large share of homes are bought with all cash, often by investors, downsizers or buyers moving from more expensive areas. Cash offers can close faster and skip the financing and appraisal contingencies, so sellers often favor them. This tool shows how common cash purchases are in your metro area, along with the mix of loan types.

Where the data comes from

Redfin analyzes county purchase records to see how each home sale was financed: all cash, FHA, VA, conventional or jumbo, plus the typical down payment. The figures are for the whole metro area and are updated quarterly.

What the levels mean

• High (35% or more): expect cash competition on many homes, especially lower-priced and investor-friendly ones.
• Moderate (25% to 35%): cash buyers show up regularly in multiple-offer situations.
• Low (under 25%): most buyers finance, so a financed offer is the norm.

Competing with cash when you’re financing

• Get a strong pre-approval, ideally a fully underwritten one, so your financing looks nearly as certain as cash.
• Consider covering part of any appraisal gap, if you can afford to.
• Offer flexibility on the closing date or a short rent-back.
• Keep your offer clean; fewer conditions make a financed offer easier to accept.

The share of cash buyers can differ a lot by price range within a metro area; luxury homes and small condos often draw more cash.

Watching the trend

The change from a year earlier shows whether cash buyers are becoming more or less common. Cash shares tend to rise when mortgage rates are high, because buyers who can avoid borrowing do, and fall when rates drop and more buyers finance. A rising share is a signal to tighten up the rest of your offer.

Questions buyers ask