US All-Cash Home Sales Fall to 26% in July as Cooling Market Aids Borrowers

Q: If financed buyers are finally winning bidding wars, how much money are sellers leaving on the table by accepting quick cash offers?

In today’s softer housing market, many sellers are probably leaving only a modest amount on the table by taking a strong cash offer from a conventional buyer, but they can leave far more if the cash offer comes from an investor or “we buy houses” firm. The gap depends on who the cash buyer is. In competitive retail sales, an all-cash offer from an individual buyer is often about 2% to 5% below what a financed buyer might pay. On a median existing home priced around $434,100, that works out to roughly $8,700 to $21,700. Some industry guides put the typical cash discount closer to 9% to 11%, or about $39,000 to $48,000 on that same home, though that figure is debated and often reflects a mix of buyer types and market conditions. The much bigger discount shows up with investor-style cash buyers. Traditional “we buy houses” operators often pay only 50% to 70% of fair market value, especially for distressed homes, because they price in repairs, holding costs and profit. On a $350,000 home, that could mean a seller gives up roughly $105,000 to $175,000 versus full market value. iBuyers tend to be less aggressive, often offering closer to market value but charging service fees. What has changed is that financed buyers now carry less stigma because inventory is higher, bidding pressure is lower, and many buyers come pre-underwritten or with appraisal-gap cash. That means sellers should increasingly compare net proceeds and risk, not just assume cash is automatically the best deal.

3 articles · Updated · CNBC · Aug 25

July all-cash purchases made up 26% of existing-home sales, down from 31% a year earlier, as buyers using mortgages gained ground in a less frenzied market.
31.4% of home sales in the first four months were all-cash, versus 32.3% a year earlier, while the number of cash deals fell 11.2%—faster than the 8.5% drop in total sales.
0.2% annual median-price growth, up from 1.8% in 2025 and far below the 15.4% peak in 2021, reflects cooler pricing, higher inventory and weaker seller confidence that reduce cash buyers' edge.
Pittsburgh, Austin and San Francisco still posted higher cash-sale shares because actual cash purchases rose, while Boston agents said financed buyers can now beat cash with pre-underwriting even in competitive neighborhoods.
Cash remains valuable for giving sellers confidence a deal will close quickly, but its role has shifted from a near-necessity during the pandemic-era bidding wars to one advantage among several.