Cash buyers drive 30% of Bay Area home sales as AI wealth surges

nypost.com

All-cash purchases accounted for 30% of San Francisco Bay Area home sales from April to June, up from under 20% in 2021, driven by AI-fueled wealth and limited housing supply. Luxury homes priced between $5 million and $6 million in neighborhoods like Noe Valley are being bought outright, with some parents purchasing properties for their children. The surge also reflects affluent buyers returning from Texas and Florida. In Southern California, SpaceX's IPO has made thousands of employees millionaires, prompting early inquiries on properties over $5 million near Hawthorne. California's median home price is $930,260, the highest in the nation.


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Cash buyers drive 30% of Bay Area home sales as AI wealth surges | News Minimalist