There’s surprisingly less cash buyers these days:
- 29% of U.S. homebuyers paid all cash in December 2025—the lowest December share since 2020 (data from 38 large metros; Dec. 2025 is the most recent month analyzed).
- Cash purchases were concentrated in Florida and were least common on the West Coast (Seattle, Oakland, Sacramento among the lowest).
- FHA use fell to about 14.4% of mortgaged buyers in December (the lowest December share since 2021); conventional-loan share rose slightly and VA use ticked up modestly.
- The decline in all-cash deals tracked a drop in mortgage rates—from high-7% peaks in late 2023 to an average 30‑year rate near 6.09%—which reduced the benefit of avoiding financing.
- A record-strong buyer’s market (sellers outnumber buyers by 47%) has lessened competition, so buyers don’t need all-cash offers to win—though cash still delivers faster closings and stronger negotiating leverage in some markets (notably Texas and Florida).
