HousingWireHousingWire
New American Funding (NAF) on Tuesday released data that identifies the top 10 U.S. states where homes are purchased entirely with cash. Leading the way for the highest share of all-cash home purchases was West Virginia at 41.4%.
It was followed by New York (40.4%), Delaware (38.9%), Georgia (37.5%), Alabama (36.7%), South Carolina (35.2%), North Carolina (34.3%), Louisiana (34.1%), Maine (33.4%) and Ohio (31.5%).
Cash sales made up about 27% of all home purchases in 2024, according to NAF‘s analysis of data from ATTOM. The California-based lender said that all-cash buyers have stronger negotiating power, greater certainty in locking down the deal by avoiding contingencies and faster closings.
“Buyers don’t have to wait to sell their home to purchase a new one,” said Miguel Villegas, director of NAF Cash, a subsidiary that turns borrowers into cash buyers. “They can save money and move into their next home faster. All-cash transactions continue to offer significant strategic advantages in today’s competitive housing environment.”
NAF Cash is available in all U.S. states and has helped nearly 1,500 families and individuals secure homes on their terms, often closing in as little as 14 days.
