The Death of the "Cash Discount"

In the "good ole days" (pre-COVID), those buying a house in the Upstate of SC with all cash could generally expect a discount - to not have to pay "full price" in contrast to those making offers contingent on financing. But as cash closings have come to dominate a larger percentage of closings than we've ever seen and with inventory at historically low levels, the conventional wisdom of the past is no longer true. Looking at the data from the past four years, we find that buying a house with cash still gives you an advantage (but not necessarily a discount) - the advantage of actually having a shot at winning bidding wars and getting a house at all.

 As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at (864) 735-7580 or by email at smccune@cdanjoyner.com.