Why are repeat homebuyers buying homes in cash more often right now? Nearly 3 in 10 homes purchased today are bought in cash, according to the National Association of Realtors. For many homeowners, rising home equity has created the ability to purchase their next property outright.
Buying your next home without a mortgage might sound unrealistic. But for some homeowners, it’s actually happening.
Nearly 3 in 10 homes purchased today are bought in cash, according to the National Association of Realtors (NAR). That’s far more than what we saw before the pandemic.
So how are so many buyers pulling that off?
For many homeowners, the answer is home equity.
Back in 2020 and 2021, mortgage rates and the number of homes available for sale were both at historic lows. That combination pushed home prices up quickly.
If you owned a home during that time, there’s a good chance your property gained value. In some cases, that increase has created enough equity for homeowners to purchase their next home outright.
As NAR explains:
“. . . rising home equity has armed many existing homeowners with the financial leverage to make cash offers, allowing them to convert years of price appreciation into immediate purchasing power.”
For homeowners with significant equity, that opens the door to a different way of buying.
1. Your Offer May Be More Attractive to Sellers
Sellers value certainty.
And one of the biggest unknowns in a real estate transaction is financing. When a buyer needs a mortgage, the loan still has to go through underwriting, appraisal review, and final approval.
A cash offer removes that step.
As Rocket Mortgage explains:
“Cash offers are attractive to sellers. Sellers often prefer to work with cash buyers if they can because they don’t have to worry about a buyer’s financing falling through at the last minute.”
In many markets, that can give cash buyers an advantage.
2. The Closing Timeline Can Be Faster
When a mortgage isn’t involved, several steps in the process disappear.
There’s no lender approval, no underwriting timeline, and no waiting for loan documents. That can shorten the time it takes to close.
According to Cotality:
“Cash buyers have always enjoyed an edge over borrowers. They remove financing risk, reduce delays, and often close in days rather than weeks.”
If a seller needs to move quickly, this can make a big difference. For example, someone relocating for a new job or already under contract on their next home may prefer a faster closing.
3. You Don’t Have Monthly Mortgage Payments
When you buy a home in cash, you own it outright from day one.
No mortgage.
No monthly payment.
Full ownership.
And that changes the financial picture.
According to Zillow:
“Paying in cash means you own your home outright. This eliminates the need for monthly mortgage payments, freeing up your finances for other priorities like savings, travel, or home improvements.”
For some homeowners, that flexibility is a major benefit.
4. Cash Buyers Sometimes Pay Less
This surprises many people.
But according to Cotality, all-cash buyers tend to spend roughly 9% less on a home than buyers who use a mortgage.
Why would that happen?
Some sellers are willing to accept a slightly lower offer in exchange for a faster and more certain closing process. That can mean fewer financing hurdles and less risk of the deal falling through.
As Cotality explains:
“From a seller’s point of view, a lower but reliable offer can feel preferable to a higher one that may collapse weeks later.”
Is Buying a Home in Cash Realistic for You?
Not every homeowner will purchase their next home entirely in cash.
And that’s completely normal.
But the bigger takeaway is this: the equity in your current home may give you more options than you think.
For some homeowners, that could mean downsizing and eliminating a mortgage. For others, it simply means having stronger negotiating power when purchasing their next home.
Either way, your current home may play a larger role in your next move than you expected.
What to Consider Before Making Your Next Move
Before deciding how to structure your next purchase, it helps to understand the full picture.
That includes:
- How much equity you currently have
- What your home could realistically sell for
- The price range of homes you’re considering
- Whether using cash, financing, or a mix of both makes the most sense
Every situation is different. Sometimes the numbers reveal opportunities homeowners didn’t initially expect.
Final Thoughts
If you already own a home, the equity you’ve built may be one of your most valuable financial tools.
And in some cases, it can create opportunities that weren’t possible just a few years ago.
Before assuming you’ll need another traditional mortgage, it may be worth asking one simple question:
How much equity do you really have?
The answer could change what your next move looks like.
If you’re curious what your home equity could mean for your next purchase, we’d be happy to run the numbers with you and walk through the possibilities.
Byron Rausenberger & Kerry Baldwin | REALTORS® | Lewisburg, WV Real Estate Experts
Byron Rausenberger and Kerry Baldwin are full-time REALTORS® with Grist Real Estate Associates, serving Lewisburg, WV, and the greater Greenbrier Valley, including Greenbrier, Monroe, Summers, and Pocahontas Counties.
They specialize in residential homes, land, farms, commercial properties, and luxury retreats throughout Southern West Virginia. Known for strong negotiation, strategic marketing, and clear communication, they guide buyers and sellers through every step of the process with confidence and precision.
For those searching for the best real estate agents in Lewisburg, WV, relocating to West Virginia, or exploring homes with acreage in the Greenbrier Valley, Byron and Kerry provide trusted local expertise rooted in deep community involvement and market knowledge.
They maintain 100% five-star reviews on Realtor.com, reflecting consistent client satisfaction and a commitment to professional, results-driven service.
From first-time buyers to experienced investors, their focus is simple: help clients make smart real estate decisions that align with their goals and lifestyle.
📍 Based in Lewisburg, WV
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The information shared here is for educational purposes only and reflects local market conditions at the time of writing. It should not be considered financial or investment advice. For guidance specific to your situation or local market, contact Byron and Kerry directly. They’re always happy to help you understand what it means for you.
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