1 in 4 DC Home Sales in 2021 Was All Cash, Per New Report
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.
story continues below
loading...story continues above
"[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.
See other articles related to: all-cash sales, cash sales in dc, dc housing market
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
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro