Who’s Buying Homes with Cash Right Now?

Ryan Serhant, CEO of SERHANT, says there isn’t just 1 housing market right now. There are really 4: cash buyers, buyers who need a mortgage, homeowners with low mortgage rates, and builders. 

Today, let’s zoom in on the 1st group – cash buyers.

According to the National Association of REALTORS® (NAR), 27% of existing-home sales nationwide in September 2026 were cash transactions. That's more than 1 in 4 sales. And that’s a pretty big number, especially when so many people are struggling with affordability.

So where is all that cash coming from? When you hear a number like that, it's easy to picture wealthy investors buying up houses left and right. But that’s not necessarily the case. Some of those cash buyers are actually homeowners who've built up enough equity to buy their next home outright.

Here's what you should know about who's paying cash and what that really means for the market.

Who’s Paying Cash for Homes?

Cash buyers tend to fall into a few groups, according to NAR:

• Homeowners who sold a house and are using that money to buy their next one
• People buying a 2nd home
• Investors

So, it’s not all those big investors social media talks about. That 1st group may include people a lot more like you. Here’s how. According to Cotality's second-quarter 2026 report, U.S. homeowners with a mortgage had an average of approximately $310,000 in tappable home equity.

That’s a big deal right now. Many homeowners feel stuck because they don’t want to give up the low mortgage rate they have today. For homeowners who have enough proceeds from selling their current property to purchase their next home entirely with cash, today's mortgage rates may be less of a concern. Buying a home entirely with cash can offer several potential advantages:

• No monthly mortgage principal and interest payment
• No need to borrow at today’s mortgage rates
• No loan approval process, so you may be able to close faster

And even if the equity won’t cover the whole purchase, putting more of it toward the next home means borrowing less. That can mean a smaller monthly payment, too.

But cash buyers like this are more common in some places than others. And how big of a segment of your local market this is, is going to depend on where you live.

According to Realtor.com, cash purchases accounted for 47.2% of home sales in Mississippi and 45.9% in Montana during the first four months of 2026 (see map below).

Where does your state fall?

According to Realtor.com, the states with the most cash buyers reflect “a mix of affordability, wealth and buyer demographics.” Think places with lower home prices, or lots of retirees and 2nd-home buyers.

So, depending on where you live, you may see a lot more (or a lot fewer) cash buyers than the national number suggests. A local real estate agent can help you understand buying trends and market conditions in your area.

Most Homebuyers Are Still Using a Mortgage

And if all of this has you thinking everyone’s paying cash, they’re not. If you’re planning to buy and need a mortgage, you’re actually in the majority.

Based on NAR’s numbers, nearly 3 out of 4 home purchases still involve financing. And for homes priced between $200,000 and $750,000, only about 1 in 5 sold for cash, according to Realtor.com (see graph below):

That means most buyers in that price range are financing their purchases, too. While paying cash can offer certain advantages, using a mortgage doesn't automatically rule you out of buying a home.

What Cash Buyers Mean for Your Next Move

So, what does all this mean for you? Maybe more than you think.

If you already own a house, you may have enough equity to make your next move more affordable than you realize. And if you're buying with a mortgage, remember, you're in good company. Most buyers are financing their purchases, too.

The takeaway? Don't make assumptions about what's possible based on how other people are buying homes. What really matters is your equity, your budget, and what’s happening in your local market.

Bottom Line: Your Home Equity and Buying Options Matter

Cash buyers are a meaningful part of today’s housing market, but they aren’t the whole market.

Whether you're planning to buy, sell, or downsize in North County San Diego, understanding your home equity, financing options, and local housing market can help you make a more informed decision.

If you own a home in Oceanside, Carlsbad, Vista, San Marcos, or Escondido, start by checking your home's estimated value and exploring the latest North County San Diego market snapshot.

Thinking about your next purchase? Search available homes and use our mortgage calculator to estimate potential monthly payments.

Ready to explore your options? Contact us for personalized guidance on your next move.

Frequently Asked Questions About Cash Home Buyers and Home Equity in North County San Diego

Who Is Buying Homes with Cash in Today's Housing Market?

Cash home buyers include homeowners using proceeds from selling a previous property, investors, and people purchasing second homes. According to the National Association of REALTORS® (NAR), 27% of existing-home sales nationwide in September 2026 were cash transactions.

Not all cash buyers are investors. Some homeowners have accumulated enough equity to purchase their next property without a mortgage. However, the percentage of cash purchases varies by location, and national figures do not necessarily reflect the North County San Diego housing market.

Can I Use My Home Equity to Buy Another Home in North County San Diego?

Potentially, yes. If you sell your current home, you may be able to use the proceeds toward purchasing another property in Oceanside, Carlsbad, Vista, San Marcos, Escondido, or elsewhere in North County San Diego.

Your available proceeds depend on your home's sale price, outstanding mortgage balance, selling expenses, and any other applicable obligations. Depending on the price of your next home, you may be able to make a larger down payment or purchase it entirely with cash.

Can I Still Buy a Home in North County San Diego If I'm Competing with Cash Buyers?

Yes. You can still purchase a home using mortgage financing, even when competing with cash buyers. According to the National Association of REALTORS® (NAR), 27% of existing-home sales nationwide in September 2026 were all-cash transactions.

Cash offers may appeal to some sellers because they don't require mortgage financing, but sellers may also consider price, contingencies, closing timelines, and other terms.

Working with a local real estate agent and obtaining mortgage pre-approval, when appropriate, can help you prepare a competitive offer based on your financial circumstances.

About Patricia Villanueva – Your North County San Diego Real Estate Agent

Patricia Villanueva is a real estate agent helping homebuyers and sellers throughout North County San Diego, including Oceanside, Carlsbad, Vista, San Marcos, Escondido, and surrounding communities.

Whether you're looking to buy a home, sell your house, downsize, relocate, or explore your home equity options, Patricia Villanueva provides personalized guidance to help you navigate the local real estate market.

From helping buyers explore homes for sale in North County San Diego to assisting sellers with home valuations and property marketing, Patricia Villanueva helps clients make informed decisions based on their real estate goals.

Thinking about buying or selling a home in North County San Diego? Contact Patricia Villanueva to discuss your goals and explore your next steps.

Disclaimer: The information provided in this article is for general informational purposes only and should not be considered financial, legal, tax, or mortgage advice. Real estate market data and statistics are based on the sources and reporting periods cited and may change over time. Home values, market conditions, and individual circumstances vary. Readers are encouraged to consult qualified professionals for advice specific to their situation.