Real Estate
Home Buyers Paying Cash Are Dominating the Property Market in These Cities
In some Florida and New York metro regions, it's tough to compete for homes unless you have access to a ton of cash.
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House hunters looking to stand out in a crowded market are increasingly making cash offers for properties, often giving them an edge over buyers who need to rely on mortgages.
An analysis of county records by real-estate broker and buyer Redfin Corp. found that 30% of U.S. home purchases in the first four months of this year were all cash, up from 25.3% last year. The share of cash buyers is the largest since 2014, the company said. Paying up front as opposed to obtaining financing is often seen as a way of getting a leg up on other potential buyers.