Fewer buyers in the Philadelphia region are purchasing homes with cash, writes Mike D’Onofrio for AXIOS.
Cash buyers – primarily investors – have slowed down after a pandemic shopping spree nationwide, but their share of home purchases remains historically high, according to a recent Redfin analysis.
In the Philadelphia area, cash home purchases made up 33 percent of all sales, down from 37.6 percent in 2023. Over the past decade, the share of cash buyers in the region has ranged from 28 percent to the upper 30s.
Nationwide, the share of homes purchased with cash was 32.6 percent in 2024.
All-cash purchases skyrocketed during the pandemic as investors grabbed a larger share of Greater Philadelphia homes. The region has also become a hotspot for house flippers.
“We are unlikely to see the share of all-cash purchases fall much lower in 2025, unless mortgage rates drop enough to drive a significant increase in sales,” said Redfin senior economist Sheharyar Bokhari.
Read more about all-cash home sales homes in AXIOS.
