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Jun 3, 2025  |  
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While many people take out a mortgage to buy a home, some homebuyers use cash to make their purchases. 

The share of homes bought with all cash varies from state to state, with some states standing out as seeing the largest percentages, according to a recently released analysis by New American Funding. 

Putting in all-cash offers on a house can "help buyers stand out in multiple-offer situations" as well as lead to a quicker closing, according to the mortgage lender.

New American Funding said it analyzed data about 2024 home sales from ATTOM to craft its list, "Top 10 States for All-Cash Home Sales." 

According to the company, here are the top 10 states with the highest percentage of homes bought with all-cash.

Aerial view of Charleston Skyline, West Virginia. (Photo by: Visions of America/Joseph Sohm/Universal Images Group via Getty Images)

Charleston, W.Va. (Visions of America/Joseph Sohm/Universal Images Group via Getty Images)

The New York City skyline

New York City (ANGELA WEISS/AFP via Getty Images)

Wilmington, Del. (iStock)

ATLANTA, GEORGIA - MAY 15: In an aerial view, the midtown skyline is seen from Piedmont Park on May 15, 2024 in Atlanta, Georgia. Atlanta is one of the host cities for the 2026 World Cup. (Photo by Alex Slitz - FIFA/FIFA via Getty Images)

Atlanta (Alex Slitz/FIFA via Getty Images)

Huntsville Alabama

Huntsville, Ala. (iStock)

Myrtle Beach, South Carolina

Myrtle Beach, S.C. (Edwin Remsberg/VWPics/Universal Images Group via Getty Images)

Asheville North Carolina skyline

Asheville, N.C. (iStock)

New Orleans

New Orleans (iStock)

WELLS, ME DECEMBER 24: Waves break over a sea wall near houses in Wells on Saturday, December 24, 2022. (Staff photo by Gregory Rec/Portland Press Herald via Getty Images)

Wells, Maine (Gregory Rec/Portland Press Herald via Getty Images)

Akron Ohio skyline

Akron, Ohio (iStock)

Last year, homebuyers nationwide used all-cash to buy homes in more than a quarter of home transactions, New American Funding reported, citing ATTOM.

The median sale price of a home hit $438,466 as of April, according to a separate report from Redfin. 

for sale sign

(fstop123/iStock)

It represented a 1.8% increase from March and a 1.4% increase from April of last year, it found. 

In April, more than 1.9 million homes were on the market on a seasonally adjusted basis, according to Redfin.