All-Cash Home Sales Are Highest In These States

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February 05, 2016

Typically, buying a house with cash is a good option that is less of a hassle than going the mortgage route.  You become a more attractive buyer, you may get a better deal, and you don’t have to stress about mortgage payments. The problem is, it can be hard to get enough money together for a 10 percent down payment on a house, let alone enough to buy the house outright.

In October 2015, cash sales accounted for 33.9 percent of all home sales, MarketWatch reports, which is down from 36.4 percent from a year prior. However, that is still above the 25 percent from before the housing crisis. While that was the national average, there are some states well above that number of 33 percent.

Alabama, Florida, New York, West Virginia, and Indiana were the five states with the highest percentage of all-cash sales in October 2015 all topping out at 41 percent or higher. Alabama had the highest percentage with 52 percent of sales being all-cash.

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