Cash is still king in the housing market.
A new report out from real estate brokerage Redfin finds that close to a third of homes sold in the U.S. in 2021 were purchased with cash.
"[Thirty percent] of U.S. home purchases this year were paid for with all cash," the report said. "That’s up from 25.3% during all of 2020 and represents the largest share since 2014, when 30.6% of homes were purchased with all cash."
The report attributes buyers reaping profits from the stock market as the main driver for the increase in cash purchases.
In DC, approximately 25% of homes sold this year were all-cash deals, but UrbanTurf found that in some neighborhoods, that percentage is higher. In Georgetown, about 1 in 3 homes sold in a cash transaction in 2021 and in Spring Valley, 40% of sales were all-cash.
Chart courtesy of Redfin.
This article originally published at https://dc.urbanturf.com/articles/blog/1-in-4-dc-home-sales-in-2021-was-all-cash-per-new-report/18502.
Most Popular... This Week • Last 30 Days • Ever
As the Capitol Riverfront neighborhood nears its development capacity, a new effort p... read »
The large new residential building is just the latest development pitched near the ba... read »
UrbanTurf put together a quick primer on the ins and outs of a home auction.... read »
Foulger Pratt has plans to turn the 12-story office building at 1133 19th Street NW i... read »
The e-bike battle; the home insurance you didn't know that you needed; and what trans... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
This Week's Find is one of the more interesting homes in DC's Foxhall neighborhood. ... read »
The mall will be reimagined as a 7-story, 325-unit apartment project with 25,000 squa... read »
While DC's rising home prices have been the story for years, there are some areas of ... read »
Brookfield Properties and the Menkiti Group have filed a second-stage planned unit de... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro