The share of cash sales is falling nationwide, but there are many housing markets where they still dominate. Cash transactions made up 27.8 percent of single-family home and condo sales in 2018, down from a peak of 38.4 percent in 2011, according to real estate research firm ATTOM Data Solutions. But cash sales are still higher than historical norms: They averaged only 18.7 percent of all sales in the prerecession years between 2000 and 2007. The top 20 metros (with populations greater than 200,000) for cash transactions saw double-digit year-over-year increases in 2018. Some of those areas are:
- Manchester-Nashua, N.H.: 89 percent
- Cedar Rapids, Iowa: 47 percent
- Duluth, Minn.-Wis.: 39 percent
- Lake Havasu City-Kingman, Ariz.: 36 percent
- Lexington-Fayette, Ky.: 35 percent
- Des Moines-West Des Moines, Iowa: 33 percent
- Claremont-Lebanon, N.H.-Vt.: 29 percent
- Phoenix-Mesa-Scottsdale, Ariz.: 25 percent
- Utica-Rome, N.Y.: 24 percent
- Boulder, Colo.: 18 percent
- Durham-Chapel Hill, N.C.: 16 percent
- Reno, Nev.: 16 percent
- Providence-Warwick, R.I.-Mass.: 16 percent
- Charlotte-Concord-Gastonia, N.C.-S.C.: 15 percent
Source: “Top 20 Metros in 2018 Where Cash Is King,” ATTOM Data Solutions (Feb. 1, 2019)
