Which markets saw the highest percentage of all-cash home sales in 2023?
According to ATTOM’s 2023 Year-End Home Sales report, the top MSAs with the highest percentage of cash sales included Macon, Ga. (61.5%); Naples, Fla. (58.9%); Myrtle Beach, S.C. (56.3%); Youngstown, Ohio (55.1%); Salisbury, Md. (54.4%); Lake Havasu City-Kingman, Ariz. (52.9%); and Syracuse, N.Y. (52.8%).
In these particular MSAs, cash sales are outpacing the national average by a significant margin.
ATTOM says these figures are particularly noteworthy as they highlight the attractiveness of these locales for investors and those looking to secure properties without the complexities of financing.
The national average for cash sales in 2023 was 38.0%, a steady increase from 33.5% in 2021 and 36.1% in 2022.
This upward trend reflects a broader shift in the real estate market that could be attributed to several factors, including a post-pandemic economic recovery, and a significant influx of investors into the housing market, the firm says.
Florida’s Cape Coral-Fort Myers (52.2%) and Gainesville, Ga. (52.2%) also continued to attract cash buyers, indicating a possible preference for the state’s tax-friendly policies and favorable climate.
Prescott, Ariz., rounded out the top 10 with 51.5%, reinforcing Arizona’s position as a burgeoning market for cash-based property acquisitions.
The appeal of these areas may lie in their unique local economies, retirement communities, or perhaps their growing reputation as investment havens.
Photo: Pepi Stojanovski
