Core Insights - All-cash home purchases have reached 39.1% of all transactions, the highest level since 2013, indicating a significant trend in the U.S. real estate market [1] - The increase in all-cash transactions is attributed to investors and wealthy individuals seeking to avoid high mortgage rates, which have remained above 6%, thus gaining a competitive advantage over traditional buyers [2] Market Dynamics - In a tight inventory market, sellers are favoring speed and certainty, making all-cash offers more appealing as they close faster and do not involve financing contingencies, which are challenging for mortgage-dependent buyers [3] - Sellers accepted an average discount of 9% on all-cash purchases compared to financed offers in 2025, a significant increase from 4% in 2021, translating to potential savings of over $30,000 for cash buyers on a median-priced home of $360,000 [4] Homeownership Trends - The current peak in homeownership tenure is a result of a locked-in market, where high prices and low inventory discourage homeowners from selling, as they would have to replace low mortgage rates with higher payments [5] - Homeowners with mortgage rates below 4% are particularly reluctant to move, further contributing to market stagnation [8] Regional Insights - Geographic factors significantly influence homeownership tenure, with high-priced coastal markets experiencing the most stagnation; Massachusetts leads with an average homeownership tenure of 13.29 years, a 4% year-over-year increase [7]