Albuquerque, New Mexico, is experiencing a surge in all-cash home purchases, with 71% of residential transactions paid in cash—significantly higher than the national average of 34.6%. This trend is largely due to the city’s affordable housing market and its appeal to real estate investors. With a median home price of around $399,900, Albuquerque offers a more accessible market for those looking to bypass the often complicated mortgage process. According to Realtor.com’s senior economist Joel Berner, the city has consistently led the nation in cash deals, and the gap continues to widen.
Cities in the South and West are seeing similar trends, with Myrtle Beach, SC, and North Port, FL, among the top locations for all-cash transactions. These areas, known for their affordable properties and attractive locations, are seeing a growing number of second-home buyers, vacation home seekers, and investors looking to close deals quickly and efficiently.
The primary advantage of all-cash offers is that they typically close faster—sometimes in just a couple of weeks—compared to mortgage-dependent purchases that can take over a month. For sellers, this speed and the certainty of no financing complications make cash buyers highly attractive.
This growing trend highlights the importance of affordable real estate markets in regions like the South and West for cash buyers seeking a competitive edge in today’s market.
