NAF Cash Empowers Homebuyers with Access to Data-Driven Insights
NAF Cash, an affiliated company of national mortgage lender New American Funding (NAF), today announced the launch of NAF Cash Maps. This innovative tool is designed to give homebuyers in-depth insights into the real estate landscape.
NAF Cash Maps is a comprehensive analytics tool that provides detailed information on cash transactions throughout the U.S. by state. The data is derived from information collected by real estate data provider MMI, MLS data, and public records, enhanced with NAF Cash data engineers’ detailed work and analysis.
This new tool provides homebuyers with insight into the prevalence of cash buying in each state, empowering them to make more informed decisions about how to compete in today's housing market.
“We’re thrilled to introduce NAF Cash Maps, a groundbreaking tool that provides homebuyers with invaluable insights into the real estate market,” said Miguel Villegas, Director, NAF Cash. “By understanding the cash buying trends in different states, homebuyers can make more strategic decisions and position themselves for success in their homebuying journey.”
NAF Cash, which recently helped its 1,000th client buy their home, understands the unique challenges faced by homebuyers and the need for innovative solutions. In competitive markets, sellers are often inundated with offers from traditional homebuyers and investors alike. By leveraging NAF Cash to become a cash buyer, first-time and repeat homebuyers can position themselves as serious contenders, increasing their chances of acceptance and success.
Buying in cash may also help save money, as some home sellers are willing to accept a lower price due to the certainty of a cash transaction over the chance that the buyer’s mortgage falls through.
Recent data compiled by NAF Cash and displayed in the map tool reveals a consistent trend in the top states for cash transactions, where buyers who leverage cash offers have a higher chance of success. States like Mississippi, Louisiana, Michigan, New York, South Carolina, and Alabama consistently rank among the leaders in cash transactions as a percentage of total transactions.
For the first quarter of this year, Mississippi ranked first in the nation in popularity of all-cash homebuying, as more than half of the homes bought in the Magnolia State (56%) were bought with cash. Also ranking high on the list of cash buying prevalence is Louisiana, which ranked second in the U.S. (53%), just above Michigan (51%). Rounding out the top 5 in Q1 2024 were Georgia (47%) and New York (44%). Looking back at last year, Georgia was not in the top five states, but did report the largest year-over-year increase of any state (19%).
Here are the top states for cash transactions (as % of total transactions) for first quarter 2024, first quarter of 2023, and the top states by year-over-year increase:
|
Top States |
Q1 2023 |
|
Top States |
Q1 2024 |
|
Top States |
YoY Increase |
|
Mississippi |
45% |
|
Mississippi |
56% |
|
Georgia |
19% |
|
Louisiana |
45% |
|
Louisiana |
53% |
|
Mississippi |
12% |
|
New York |
43% |
|
Michigan |
51% |
|
Idaho |
11% |
|
Michigan |
41% |
|
Georgia |
47% |
|
Indiana |
10% |
|
Delaware |
39% |
|
New York |
44% |
|
Michigan |
10% |
|
South Carolina |
36% |
|
Alabama |
40% |
|
West Virginia |
9% |
|
Maine |
34% |
|
South Carolina |
38% |
|
Arkansas |
9% |
|
Alabama |
32% |
|
Indiana |
37% |
|
Alabama |
8% |
|
Wisconsin |
32% |
|
Missouri |
37% |
|
Louisiana |
8% |
|
Missouri |
30% |
|
West Virginia |
36% |
|
Missouri |
7% |
Analysis of the data reveals several reasons why cash buying has become so prevalent in certain states. In some of these states, lower home prices are attracting investors and home flippers. While other homebuyers are looking to downsize or settle into retirement. Additionally, there has been a trend in recent years of people with larger homebuying budgets moving away from higher-cost areas into those where homes are less expensive, allowing them to get more home for their money.
Combine all these factors and it’s never been more important for traditional homebuyers to be able to stand out above the competition in these markets. Becoming a cash buyer can be the ultimate tool to help them compete and win.
That’s why NAF Cash developed NAF Cash Maps, to help homebuyers with critical insights into the markets they are considering for their next home.
The tool offers several key features:
- State-by-State Analysis: NAF Cash Maps displays the percentage of cash transactions in each state, allowing homebuyers to easily compare markets and identify areas with higher cash buying activity.
- County-Level Data: The tool also shows the prevalence of cash offers broken down by county, enabling buyers to drill down into the data at a local level for increased insight.
- Historical Trends: Homebuyers can view historical data on cash transactions, enabling them to understand market trends and make informed decisions based on past purchases.
- Interactive Visualization: The tool presents data in an interactive map format, making it easy for users to explore and visualize the information.
NAF Cash is committed to empowering homebuyers at a time when they need it most. With NAF Cash Maps, the company continues to provide innovative tools and resources to make the homebuying process more transparent and successful.
About NAF Cash
NAF Cash was created for today's real estate market. We provide a clear and creative solution to get homebuyers into their dream home while providing a stress-free homebuying process. NAF Cash buys their house with cash and sells it back to them, so they can get the house of their dreams. Buying in cash means convenience, certainty, and may mean cost savings too.
To learn more about NAF Cash, visit NAFCash.com.