{"id":75809,"date":"2023-02-15T05:30:13","date_gmt":"2023-02-15T13:30:13","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=75809"},"modified":"2023-02-14T14:55:29","modified_gmt":"2023-02-14T22:55:29","slug":"all-cash-purchases-fha-loans-december-2022","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/all-cash-purchases-fha-loans-december-2022\/","title":{"rendered":"Share of Homes Bought With Cash Ticks Down From November Peak"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Just over 31% of home purchases in December were made in cash, down slightly from the eight-year high hit in November.\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">More than 15% of homebuyers taking out a mortgage used an FHA loan in December, the highest share since May 2020, as buyers gain negotiating power in the cool market.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Roughly 7% of mortgaged home sales used a VA loan, the highest share since July 2020.\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">The prevalence of FHA and VA-backed sales ticked up in 33 of the 40 U.S. metros in this analysis. FHA purchases increased most in Riverside, CA, Phoenix and Las Vegas, while VA purchases increased most in San Diego, Virginia Beach and Jacksonville, FL.\u00a0<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Roughly one-third (31.2%) of U.S. home purchases were paid for with all cash in December. That\u2019s up from 28.8% a year earlier but down from the eight-year high of 31.9% hit in November.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-75810 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/all-cash-chart.png\" alt=\"\" width=\"1310\" height=\"742\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/all-cash-chart.png 1310w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/all-cash-chart-300x170.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/all-cash-chart-1024x580.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/all-cash-chart-768x435.png 768w\" sizes=\"(max-width: 1310px) 100vw, 1310px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The data in this report is from a Redfin analysis of county records across 40 of the most populous U.S. metropolitan areas, going back through 2011. December 2022 is the most recent month for which data is available. For this report, an all-cash purchase is one in which there is no mortgage loan information on the deed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The share of homes bought with cash remains elevated above pre-pandemic levels because mortgage rates are high, averaging <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-tracker-december-2022\/\"><span style=\"font-weight: 400;\">6.36%<\/span><\/a><span style=\"font-weight: 400;\"> in December. Buyers who can afford to pay cash are motivated to do so because it means they don\u2019t need to pay high interest on a loan. The typical monthly mortgage payment is up about 25% from a year ago, when rates were around 4%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But rates and monthly mortgage payments have declined from the<\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">\u00a0apex<\/span><\/a><span style=\"font-weight: 400;\"> they reached in November, which helps explain why the portion of home purchases made in cash peaked that month, too. All-cash purchases are common in two notable scenarios: When mortgage rates are high and when the housing market is competitive, motivating affluent buyers to pay cash to entice sellers to accept their offer. The latter explains why the prevalence of all-cash purchases shot up in late 2020 and remained elevated throughout 2021.\u00a0<\/span><\/p>\n<h3>FHA loans make up 16% of mortgaged home sales, highest portion since pandemic start<\/h3>\n<p><span style=\"font-weight: 400;\">Nearly one in six (15.6%) mortgaged home sales nationwide used an FHA loan in December, up from 12.5% a year earlier and the highest share since May 2020.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">VA loans have also become more common, with 7.1% of homebuyers who took out a mortgage using one in December. That\u2019s up from 6.2% a year earlier and the highest share since July 2020.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FHA loans\u2013and VA loans, to a smaller extent\u2013became increasingly prevalent in the second half of 2022 as the overall housing market cooled considerably due to rising <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">mortgage rates<\/span><\/a><span style=\"font-weight: 400;\"> and buyers gaining more <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-seller-concessions-january-2023\/\"><span style=\"font-weight: 400;\">negotiating power<\/span><\/a><span style=\"font-weight: 400;\">. That came after their use plummeted in 2021 amid the ultra-competitive pandemic housing market. The share of mortgaged home sales using an FHA loan fell to a record low of 10.4% in April 2022, while VA loan usage bottomed out in March and April 2021 at 5.5%.\u00a0\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-75811 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/loan-types-updated-chart.png\" alt=\"\" width=\"1354\" height=\"768\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/loan-types-updated-chart.png 1354w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/loan-types-updated-chart-300x170.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/loan-types-updated-chart-1024x581.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/02\/loan-types-updated-chart-768x436.png 768w\" sizes=\"(max-width: 1354px) 100vw, 1354px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">FHA-financed buyers are more likely to get their offers, which tend to include small down payments, accepted in a cool market where there is little to no competition from buyers with higher down payments and perhaps more desirable financing terms. In a hot market, sellers often choose all-cash buyers or those using conventional loans because they believe those deals are more likely to close quickly and efficiently.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBuyers are successfully using FHA loans more often now because sellers are eager to jump on any offer they get when their home sits on the market and gets just one or two showings a week,\u201d said Redfin Senior Economist <a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\">Sheharyar Bokhari<\/a>. \u201cThat means buyers with less money in the bank are finally able to win homes. But it\u2019s not all good news for FHA buyers: Their loans are getting accepted because the market is slow, and the market is slow because high rates and prices make it unaffordable for a lot of people.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even though it\u2019s now easier for buyers to use FHA loans, all-cash buyers are still in a financially advantageous position. They don\u2019t need to pay the extra money that comes with interest on their mortgage, and they\u2019re better able to take advantage of home prices coming down from their peak.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conventional loans remain the most common type by far, though other loan types are cutting into their share. Just over three-quarters (77.3%) of December\u2019s mortgaged home sales used a conventional loan, down from 81.2% a year earlier and the lowest level since June 2020.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FHA and VA loans are both insured by the U.S. government. <\/span><a href=\"https:\/\/www.redfin.com\/guides\/first-time-home-buyer-fha-loans\"><span style=\"font-weight: 400;\">FHA loans<\/span><\/a><span style=\"font-weight: 400;\">, meant for low- to moderate-income borrowers and popular with first-time homebuyers, have lower down-payment and credit-score requirements than conventional loans. <\/span><a href=\"https:\/\/www.redfin.com\/definition\/va-loan\"><span style=\"font-weight: 400;\">VA loans<\/span><\/a><span style=\"font-weight: 400;\"> are available to veterans, service members and their surviving spouses and require little to no down payment.\u00a0<\/span><\/p>\n<h3>Metro-level highlights: FHA loans picking up fastest in rapidly cooling places<\/h3>\n<p><span style=\"font-weight: 400;\">The use of FHA loans increased in 33 of the 40 metros in this analysis. It increased most in Riverside, CA, where 26.3% of mortgaged home sales used an FHA loan in December, up from 16.3% a year earlier. Next come Phoenix (18.2%, up from 9%), and Las Vegas (21.8%), up from 13.6%). FHA loans are bouncing back particularly quickly in pandemic boomtowns Phoenix and Las Vegas mainly because those housing markets have cooled rapidly, with both metros among those with the <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-homebuyer-demand-improves\/\"><span style=\"font-weight: 400;\">biggest year-over-year drops<\/span><\/a><span style=\"font-weight: 400;\"> in pending home sales.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FHA loans were most common in Riverside, Detroit (25.1%) and Cleveland (21.9%) in December. They\u2019re least common in expensive parts of California. Just 1.1% of mortgaged home sales in San Francisco used an FHA loan, followed by 2.3% in San Jose and 3.6% in Anaheim.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">VA loan usage has also increased in 33 of the metros in this analysis, with the biggest upticks in San Diego, Virginia Beach and Jacksonville, FL, all home to major military bases. Those are also the places VA loans are most prevalent (Virginia Beach: 43.1%; Jacksonville: 20.7%; San Diego: 19.5%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The prevalence of all-cash purchases rose in 30 of the metros in this analysis. The biggest increase was in Riverside, CA, where 35.4% of homes were bought in cash, up from 22.3% a year earlier. Next came Cleveland (43.6%, up from 32%) and Philadelphia (35.9%, up from 26.2%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Overall, all-cash purchases were most common in Florida. Over half (52%) of West Palm Beach purchases were made in cash, followed by roughly 45% in both Jacksonville and Miami.\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"7\"><b>Metro-Level Summary: Home Sales By Loan Type, December 2022 vs. December 2021<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Share of mortgaged home sales using each common loan type<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Share of home sales using all cash<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><b>U.S. metro area<\/b><\/td>\n<td><b>Share of home sales using all cash, Dec. 2022<\/b><\/td>\n<td><b>Share of home sales using all cash, Dec. 2021<\/b><\/td>\n<td><b>Share of mortgaged home sales using FHA loan, Dec. 2022<\/b><\/td>\n<td><b>Share of mortgaged home sales using FHA loan, Dec. 2021<\/b><\/td>\n<td><b>Share of mortgaged home sales using VA loan, Dec. 2022<\/b><\/td>\n<td><b>Share of mortgaged home sales using VA loan, Dec. 2021<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Lauderdale, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">47.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Brunswick, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">37.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">37.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">52.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">51.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>National<\/b><\/td>\n<td><b>31.2%<\/b><\/td>\n<td><b>28.8%<\/b><\/td>\n<td><b>15.6%<\/b><\/td>\n<td><b>12.5%<\/b><\/td>\n<td><b>7.1%<\/b><\/td>\n<td><b>6.2%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just over 31% of home purchases in December were made in cash, down slightly from the eight-year high hit in November.\u00a0 More than 15% of homebuyers taking out a mortgage used an FHA loan in December, the highest share since May 2020, as buyers gain negotiating power in the cool market. Roughly 7% of mortgaged [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":75812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[20],"dashboard":[],"coauthors":[124],"class_list":["post-75809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-housing-affordability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Share of Homes Bought With Cash Ticks Down From November Peak<\/title>\n<meta name=\"description\" content=\"Just over 31% of home purchases in December were made in cash, down slightly from the eight-year high hit in November. 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