A record 10% of first-time home buyers now pay in cash. Here’s where they get the money.

A new trend shows that a record 10% of first-time home buyers are now paying entirely in cash, a significant shift in an otherwise challenging housing market plagued by affordability issues. This surge in cash buying highlights the resilience of some buyers, often fueled by inheritances, savings from previous property sales, or even windfalls like lottery winnings. As the market grapples with rising prices and limited inventory, this trend could have implications for housing availability and affordability for other prospective buyers who can't afford to pay in cash.