10 States Where Homebuyers Are Paying in Cash

Despite ongoing housing market challenges, all-cash sales continue to be a popular way for buyers to beat out the competition. In 2024, all-cash sales made up about 27% of all home purchases, according to recent analysis by mortgage lender New American Funding. These types of sales were most common along the East Coast and in the South, particularly in more affordable areas.

West Virginia led the way in all-cash deals. During 2024, approximately 41.1% of all home sales were paid in cash. This was followed by New York, where 40.4% of sales were paid in cash, and then Delaware, where 38.9% of homes were paid for in cash.

“We’re definitely seeing more cash buyers,” said Josh McGrath, president of the West Virginia Association of Realtors. The Charleston, W.V.-based real estate broker at Better Homes and Gardens Real Estate Central has eight brokerages in the state.

“We’re seeing a lot of out-of-state buyers coming to West Virginia,” he said. “They’re buying at about every price point imaginable.”

Many cash buyers in West Virginia are investors purchasing properties to flip or turn into rentals. They will often purchase dilapidated properties priced below $50,000 in cash, he said.