New American Funding Reveals Top 10 States for All-Cash Buyers

TUSTIN, Calif., May 13, 2025 /PRNewswire/ -- New American Funding (NAF), a leading independent mortgage lender, has released new data identifying the top 10 U.S. states where homes are purchased for all cash. Understanding where all-cash offers are most common provides homebuyers with valuable insights about the competition they may face in their local markets.

Cash sales made up about 27% of all home purchases in 2024, according to a NAF analysis of 2024 data from ATTOM. The states below had the highest share of cash home purchases:

1. West Virginia (41.1%)
2. New York (40.4%)
3. Delaware (38.9%)
4. Georgia (37.5%)
5. Alabama (36.7%)
6. South Carolina (35.2%)
7. North Carolina (34.3%)
8. Louisiana (34.1%)
9. Maine (33.4%)
10. Ohio (31.5%)

These states reflect a diverse mix of housing markets, ranging from more affordable destinations, such as West Virginia and other parts of the East Coast and in the South, to higher-priced areas like New York.

In today's challenging housing market, all-cash offers aren't just for investors and retirees. First-time buyers and existing homeowners are offering cash to make their offers more attractive to sellers, close faster, and potentially even save money. Many are also using cash to make it easier to buy a new home and sell their existing home at the same time.

"Buyers don't have to wait to sell their home to purchase a new one," said Miguel Villegas, director of NAF Cash. "They can save money and move into their next home faster. All-cash transactions continue to offer significant strategic advantages in today's competitive housing environment."

All-cash buyers enjoy several notable benefits:

• Stronger negotiating power – Cash offers are generally more attractive to sellers and can help buyers stand out in multiple-offer situations.
• Greater certainty – A contingency-free, all-cash offer lets you lock in your dream home without wondering if financing or another sale will derail the deal.
• Faster closings – With fewer steps involved, cash deals typically close more quickly, which sellers value in a fast-paced market.

"NAF Cash turned what could have been a nerve-racking, cross-country move into a smooth hand-off," said Rhodabelle Braga, who recently relocated from Los Angeles to O'Fallon, Missouri. "Being able to make a cash offer before our California home sold let us secure the right house, enroll our kids in school on time and start our new jobs without juggling two closings or two mortgages. The peace of mind alone was worth it."

In addition to tracking market trends, New American Funding offers tools and resources to help buyers better understand where all-cash offers are most prevalent. NAF Cash*, which allows buyers to put in competitive all-cash offers, helps those searching for homes make informed decisions. Buyers can check the percentage of all-cash sales in their areas on NAF Maps.  

NAF Cash is available in all U.S. states and has helped nearly 1,500 families and individuals secure homes on their terms, often closing in as little as 14 days. For more information, visit the NAF Cash website.

* NAF Cash is an affiliate company of New American Funding.

About New American Funding
New American Funding is an independent mortgage lender with a servicing portfolio of more than 275,000 customers representing $71 billion in value and 276 locations nationwide. NAF was recently named to the Fortune 100 Best Companies to Work For® in 2025. NAF was also named one of America's Greatest Workplaces for Women 2025 by Newsweek. The company offers state-of-the-art career training and provides its branch Loan Officers with innovative technologies to streamline the mortgage process.

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Mattie Van Gundy                               
Interdependence PR
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SOURCE New American Funding