Where Cash Buyers Dominate the Housing Market

As mortgage rates remain above 6%, a growing share of buyers are skipping financing altogether — and many of them are flocking to the Sun Belt.

Nationwide, about 28% of homebuyers purchased their homes with cash, but in several metro areas, that number is more than double.

Leading the list is Sebastian–Vero Beach, Florida, where 63% of buyers paid in cash. Other hot spots include Houma–Thibodaux, Louisiana, Punta Gorda, Florida, and Naples, Florida, where over half of recent home sales closed without a mortgage.

What do these markets have in common?

• Older homeowners tapping into equity from previous properties

• Strong second-home and investor demand

• High appeal for relocation buyers seeking lifestyle-driven moves

Whether it’s a strategy to stay competitive in tight markets or a way to avoid high borrowing costs, cash buyers are proving that not everyone needs to wait for lower rates to make their move.