{"id":77035,"date":"2023-11-08T05:00:24","date_gmt":"2023-11-08T13:00:24","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=77035"},"modified":"2023-11-07T13:21:42","modified_gmt":"2023-11-07T21:21:42","slug":"all-cash-homebuyers-september-2023","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/all-cash-homebuyers-september-2023\/","title":{"rendered":"1 in 3 U.S. Homebuyers Are Paying All Cash, the Highest Share in Nearly a Decade"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">The share of homes bought in all cash hit its highest level since 2014 in September as elevated mortgage rates made paying in cash more attractive and priced out many buyers who would need loans.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">The number of all-cash sales was still down 11% from a year ago because the overall housing market has slowed so much, but that\u2019s much smaller than the 23% drop in all home sales.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Buyers are making bigger down payments to offset the cost of high mortgage rates: The typical U.S. buyer put down 16%, the highest percentage in nearly a year and a half.\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">15% of buyers with mortgages used FHA loans, up from 14% a year earlier. Just over 6% used VA loans, down just marginally from a year earlier.\u00a0<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Just over one-third (34.1%) of U.S. home purchases in September were made in cash, up from 29.5% a year earlier and the highest share in nearly a decade.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-77036 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/all-cash.png\" alt=\"\" width=\"1056\" height=\"582\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/all-cash.png 1056w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/all-cash-300x165.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/all-cash-1024x564.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/all-cash-768x423.png 768w\" sizes=\"(max-width: 1056px) 100vw, 1056px\" \/><\/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. The national numbers in this report refers to those 40 metros. September 2023 is the most recent month for which data is available. An all-cash purchase is one in which there is no mortgage loan information on the deed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All-cash purchases are making up a bigger piece of the homebuying pie for two major reasons. Affluent Americans who can afford to pay cash are <\/span><a href=\"https:\/\/www.redfin.com\/news\/luxury-housing-market-q3-2023\/\"><span style=\"font-weight: 400;\">more apt<\/span><\/a><span style=\"font-weight: 400;\"> to buy homes in such an expensive housing market, when the <\/span><a href=\"https:\/\/www.redfin.com\/news\/homebuyer-income-afford-home-record-high\/\"><span style=\"font-weight: 400;\">income necessary<\/span><\/a><span style=\"font-weight: 400;\"> to buy a home is higher than ever before, and elevated mortgage rates make buying a home in cash and avoiding interest altogether more attractive.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The weekly average 30-year fixed mortgage rate <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-tracker-september-2023\/\"><span style=\"font-weight: 400;\">hit 7.2%<\/span><\/a><span style=\"font-weight: 400;\"> in September, its highest level in two decades, and moved even higher in October, nearing 8% and pushing monthly mortgage payments up about 20% from a year ago to record highs. Rates have since come down a bit from their October highs, but they\u2019re still more than double early-pandemic levels.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rising rates are deterring homebuyers who take out mortgages more than they\u2019re deterring all-cash buyers: <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-drop-mortgage-rates-pass-7\/\"><span style=\"font-weight: 400;\">Overall home sales are down 23% year over year in the metros included in this analysis, compared with an 11% decline for all-cash sales. <\/span><\/a><span style=\"font-weight: 400;\">It\u2019s worth noting that high rates can also be a deterrent for buyers who can afford to pay in cash, because they could get better returns on their money by investing it somewhere besides the housing market. That\u2019s especially true when home prices are high and there\u2019s potential for them to come down.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHigh mortgage rates are exacerbating inequality between people who own homes and people who don\u2019t,\u201d said Redfin Senior Economist <a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\">Sheharyar Bokhari<\/a>. \u201cHome prices are roughly 40% higher now than before the pandemic homebuying boom, and soaring mortgage rates have made the divide even bigger by adding more to monthly payments. Affluent Americans are the only ones who can avoid the sting of high mortgage rates; plus, they\u2019re spending less on housing and keeping more money in the bank because they\u2019re avoiding interest payments. Meanwhile, those who are sidelined by high prices and rates not only can\u2019t afford a home now, but they\u2019re not building wealth through homeownership for the future.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Buyers may get a bit of a break on affordability next year, as home prices are likely to soften at least slightly in light of high mortgage rates and limited demand.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The last time all-cash purchases were this common was in 2014. At that time, affluent buyers and corporate investors who could afford to pay cash were leading the housing market recovery from the subprime mortgage crisis, while would-be first-time homebuyers were still suffering the effects of the Great Recession.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">See the table at the bottom of this report for metro-level data on all-cash purchases.\u00a0<\/span><\/i><\/p>\n<h3>Buyers are making bigger down payments to soften the blow of high mortgage rates<\/h3>\n<p><span style=\"font-weight: 400;\">The typical U.S. homebuyer\u2019s down payment was equal to 16.1% of the purchase price in September, up from 15% a year earlier and the highest down-payment percentage since June 2022.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In dollar terms, the median down payment was $60,980. That\u2019s up roughly 15% from a year earlier, the biggest increase since June 2022.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">High mortgage rates are fueling the uptick in down payments. Buyers are putting more money down to reduce their loan amount, which would result in slightly smaller monthly interest payments: The more money a homebuyer puts down, the less they\u2019re paying interest on. For example, a buyer who purchases the median-priced U.S. home ($413,000) with a 16% down payment would have a monthly payment of $3,107 at today\u2019s <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">7.76%<\/span><\/a><span style=\"font-weight: 400;\"> mortgage rate. A buyer who puts 10% down on that same home with that same rate would have a monthly payment of $3,300, roughly $200 higher.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some buyers are able to make relatively large down payments because they\u2019re using equity from their previous home. The share of homes being sold to first-time buyers is <\/span><a href=\"https:\/\/www.usatoday.com\/story\/money\/2023\/10\/19\/home-sales-down-high-mortgage-rate\/71241914007\/\"><span style=\"font-weight: 400;\">declining<\/span><\/a><span style=\"font-weight: 400;\"> as it becomes harder to afford a home without selling another one and taking out the equity.\u00a0<\/span><\/p>\n<h3>FHA loans are more common than during the pandemic homebuying boom because sellers receive fewer offers<\/h3>\n<p><span style=\"font-weight: 400;\">Just over 15% of U.S. mortgaged home sales used an FHA loan in September, up from 14% a year earlier but down from the three-year high of 16.3% hit in April. FHA loans are more common than they were during the pandemic homebuying boom (FHA loans made up roughly 12% of mortgages in late 2021), when sellers typically received multiple offers and chose one with a higher down payment because they believed they were less likely to fall through. Buyers are more likely to get FHA offers accepted now because sellers typically have fewer offers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">About one of every 16 (6.3%) mortgaged home sales used a VA loan, down just marginally from 6.8% a year earlier. The share of home sales using a VA loan typically doesn\u2019t change much over time, though it fluctuated more than usual during the topsy-turvy pandemic market. It was common for about 7% of mortgaged home sales to use a VA loan before the pandemic. The share rose to 9% in spring 2020 when the market suddenly cooled, allowing buyers with lower down payments to make their move, and dropped to 5.5% in spring 2021 as the market burned hot.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-77037 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/fha-loans.png\" alt=\"\" width=\"1240\" height=\"692\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/fha-loans.png 1240w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/fha-loans-300x167.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/fha-loans-1024x571.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/fha-loans-768x429.png 768w\" sizes=\"(max-width: 1240px) 100vw, 1240px\" \/><\/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<p><span style=\"font-weight: 400;\">Conventional loans are the most common type, making up nearly 8 of every 10 (78.5%) mortgaged home sales, down slightly from 79.2% a year earlier.\u00a0<\/span><\/p>\n<h3>Metro-level highlights, September 2023<\/h3>\n<p><i><span style=\"font-weight: 400;\">This section is based on Redfin\u2019s analysis of 40 of the most populous U.S. metropolitan areas.<\/span><\/i><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>All cash. <\/b><span style=\"font-weight: 400;\">All-cash purchases were most common in Cleveland, where 49.2% of buyers paid cash. Next came West Palm Beach, FL (49%) and Jacksonville, FL (46.2%). They were <\/span><i><span style=\"font-weight: 400;\">least <\/span><\/i><span style=\"font-weight: 400;\">common in Oakland, CA (18%), San Jose, CA (18.2%) and Seattle (20.3%), all quite expensive housing markets.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>All cash, YoY. <\/b><span style=\"font-weight: 400;\">All-cash purchases increased from a year earlier in nearly all (36) of the metros Redfin analyzed. They increased most in Pittsburgh (13.3 pts.), Baltimore (11.2 pts.) and Denver (10.1 pts.). They declined in Providence, RI (-2.5 pts.), Fort Lauderdale, FL (-0.5 pts.) and Portland, OR (-0.3 pts.) and stayed the same in Milwaukee.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Down payments. <\/b><span style=\"font-weight: 400;\">Down payments <\/span><i><span style=\"font-weight: 400;\">and <\/span><\/i><span style=\"font-weight: 400;\">down payment percentages were highest in San Francisco, San Jose and Anaheim, CA, all metros where the typical buyer put down 25% of the purchase price. Down payments were lowest in Virginia Beach, VA, Detroit and Pittsburgh, and down payment percentages were lowest in Virginia Beach (3%), Detroit (7.4%) and Philadelphia (8.9%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Down payments, YoY. <\/b><span style=\"font-weight: 400;\">Down payment dollar amounts increased in 35 of the 40 metros Redfin analyzed, dropping in Pittsburgh (-12.9%), Riverside, CA (-12.4%), Nashville, TN (-8.7%), Denver (-3%) and Cincinnati (-2.7%). The biggest increases were in Detroit (61.5%), Jacksonville (50.8%) and Washington, D.C. (49.6%). Down payment <\/span><i><span style=\"font-weight: 400;\">percentages<\/span><\/i><span style=\"font-weight: 400;\"> dropped in just one metro (Nashville; -2.5 percentage points) and stayed the same in 19. Percentages increased most in Charlotte, NC, Sacramento, CA and Newark, NJ (5 pts. each).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>FHA loans. <\/b><span style=\"font-weight: 400;\">FHA loans were most common in Riverside (29.6%), Providence, RI (25%) and Las Vegas (22.9%). They were least common in San Francisco, San Jose and Anaheim (less than 4% each).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>FHA loans, YoY.<\/b><span style=\"font-weight: 400;\"> The use of FHA loans increased in 28 of the 40 metros Redfin analyzed. It rose most in Nashville (9 percentage points), Tampa, FL (5.2 pts.) and Phoenix (4.6 pts.), and declined most in Detroit (-6.5 pts.), Cleveland (-6.4 pts.) and Warren, MI (-4.2 pts.).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>VA loans. <\/b><span style=\"font-weight: 400;\">VA loans were most common in Virginia Beach, VA (41%), Jacksonville (16.6%) and Washington, D.C. (15.2%), all of which have a major military presence. They were least common in San Francisco, San Jose and New York (less than 1% each).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>VA loans, YoY.<\/b><span style=\"font-weight: 400;\"> VA loan usage increased in 12 of the metros Redfin analyzed. It rose most in New Brunswick, NJ, Washington, D.C. and Riverside (less than 1 percentage point each), and declined most in San Diego (-5.6 pts.), Las Vegas (-2.7 pts.) and Jacksonville (-2.3 pts.).\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<table>\n<tbody>\n<tr>\n<td colspan=\"7\"><b>Metro-Level Summary: Share of All-Cash Sales and Home Sales by Loan Type, Sept. 2023<\/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<\/b><\/td>\n<td><b>Share of home sales using all cash, YoY (in percentage points)<\/b><\/td>\n<td><b>Share of mortgaged home sales using FHA loans<\/b><\/td>\n<td><b>Share of mortgaged home sales using FHA loans, YoY (in percentage points)<\/b><\/td>\n<td><b>Share of mortgaged home sales using VA loan<\/b><\/td>\n<td><b>Share of mortgaged home sales using VA loan, YoY (in percentage points)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.9 pts.\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.8 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.1 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.5 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.5 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.9 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">49.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-6.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.5 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.3 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.1 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">38.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-6.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/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;\">40.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">46.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.3 pts.<\/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;\">33.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.7 pts.<\/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;\">22.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.1 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.0 pts.<\/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;\">35.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.8 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/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;\">33.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.8 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7 pts.<\/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;\">36.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.6 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.2 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.4 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.2 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.1 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.8 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.3 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.7 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.5 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.1 pts.<\/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;\">24.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-5.6 pts.<\/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;\">26.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.2 pts.<\/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;\">18.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.3 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.1 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">38.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.6 pts.<\/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;\">23.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.0 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.6 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.9 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-4.2 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.2 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.7 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7 pts.<\/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;\">49.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.8 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.4 pts.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.8 pts.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"5\"><b>Metro-Level Summary: Down Payments, Sept. 2023<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Median down payments, in dollars and percentages<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><b>U.S. metro area<\/b><\/td>\n<td><b>Median down payment (dollars)<\/b><\/td>\n<td><b>Median down payment (dollars), YoY<\/b><\/td>\n<td><b>Median down payment (percentage)<\/b><\/td>\n<td><b>Median down payment (percentage), YoY, in percentage points<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$255,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.0 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$38,041<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$31,295<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.1 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$57,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">48.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.0 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$35,775<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$21,998<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$24,250<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$35,874<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$80,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.8 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$16,250<\/span><\/td>\n<td><span style=\"font-weight: 400;\">61.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.4 pts.<\/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;\">$60,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$40,032<\/span><\/td>\n<td><span style=\"font-weight: 400;\">50.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.2 pts.<\/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;\">$38,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/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;\">$169,375<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$80,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$33,029<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.9 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$44,985<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0 pts.<\/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;\">$80,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$49,287<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-8.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.5 pts.<\/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;\">$100,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/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;\">$189,900<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$95,096<\/span><\/td>\n<td><span style=\"font-weight: 400;\">37.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.0 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$210,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$45,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.8 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$21,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.3 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$46,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$16,940<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-12.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$90,159<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.3 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$40,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$43,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-12.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$91,900<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.0 pts.<\/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;\">$170,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/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;\">$400,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1 pts.<\/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;\">$378,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.0 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$167,172<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$40,330<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/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;\">$7,380<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$33,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6 pts.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$54,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">49.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.6 pts.<\/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;\">$75,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">unchanged<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The share of homes bought in all cash hit its highest level since 2014 in September as elevated mortgage rates made paying in cash more attractive and priced out many buyers who would need loans. The number of all-cash sales was still down 11% from a year ago because the overall housing market has slowed [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":77038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","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":"set","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":[20,623],"dashboard":[],"coauthors":[124],"class_list":["post-77035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-housing-affordability","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>1 in 3 U.S. Homebuyers Are Paying All Cash, the Highest Share in Nearly a Decade<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/all-cash-homebuyers-september-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"1 in 3 U.S. Homebuyers Are Paying All Cash, the Highest Share in Nearly a Decade\" \/>\n<meta property=\"og:description\" content=\"The share of homes bought in all cash hit its highest level since 2014 in September as elevated mortgage rates made paying in cash more attractive and priced out many buyers who would need loans. The number of all-cash sales was still down 11% from a year ago because the overall housing market has slowed [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/all-cash-homebuyers-september-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-08T13:00:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/11\/pexels-curtis-adams-3571200-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dana Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta 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