Last month I closed two sales with cash buyers. Neither of them were investors, which is what most people think of when they hear "cash buyer." One was a man who had his own business and was buying his first home. The other was a young couple whose parents where helping them pay cash for their first home. I have had a few clients like these and they are not uncommon.
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. Many of those are most likely investors.
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.
We are seeing them in San Diego too but I couldn't find any good statistics. What I am seeing first-hand is cash buyers signal to a seller than they can close more quickly and with assurance that there will not be a problem with the loan. Often they don't care about an appraisal contingency either - one less thing for a seller to worry about.
Cash buyer may have good opportunities right now, particularly with properties that have been sitting on the market. With sales down and the summer selling season coming to an end, some sellers may be concerned about carrying costs going into the fall. They may be willing to take a discount on the list price in order to get a quick close. Sd Cash Buyer just had good article on this and published this graphic:
I agree and think there is good value right now in the College area, Spring Valley, Lemon Grove, Rolando, and some pockets in North County. Let's talk if you have been thinking about buying with cash and are looking for a good return. This fall could be the time to jump into the market.
