Cash purchases accounted for 31.4% of home sales during the first four months of 2026, down from 32.3% in the same period last year, according to data from Realtor.com.
While total home sales fell 8.5% year-over-year, the number of cash sales dropped by 11.2% as the pool of cash buyers contracted. At the same time, the national median sale price inched up by a scant 0.2% year-over-year, down from its 1.8% growth in 2025 and far below the 15.4% peak reached in 2021.
The markets with the highest cash shares reflect a mix of affordability, wealth and buyer demographics. Among states, Mississippi (47.2%), Montana (45.9%), New Mexico (43.8%), Missouri (42.0%) and Florida (41.3%) posted the highest cash shares. Among major metros, Miami (43.2%), Kansas City, Mo. (38.9%), Houston (38.8%), San Antonio (38.7%) and St. Louis (37.5%) led the way.
“Cash buyers aren’t disappearing; they’re simply becoming less dominant as the housing market finds its footing,” said Hannah Jones, senior economist at Realtor.com. “More inventory and moderating prices are giving financed buyers more opportunities to compete. Cash still matters, but today its biggest advantage isn’t just winning bidding wars. It’s also giving sellers confidence that a deal will close quickly and with fewer surprises.”
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