All-cash offers have cemented their place as a formidable force in the U.S. housing market, accounting for nearly one in three home purchases in the first half of 2025, according to the latest analysis from Realtor.com. The data reveals that about 32.8% of home sales so far this year were completed fully in cash—a figure only slightly lower than last year, but significantly above pre-pandemic norms. These transactions are “especially common at the extreme ends of the price spectrum,” writes senior economic research analyst Hannah Jones, who notes that they vary dramatically across regions.
Central to this phenomenon is the growing role of two groups, Jones concludes: investors and second-home buyers. Institutional investors, in particular, have continued to leverage their financial heft, making swift, uncompromising offers—often without the need for financing. Jones’s analysis of deed data suggests to her that LLC and corporate entities make up a “disproportionate share” of cash transactions, she says, followed by second-home buyers, particularly in vacation markets. Jones cited her previous research that the share of investors who paid all cash in 2024 was nearly double the share of overall cash sales.
