Arab Press

بالشعب و للشعب
Saturday, Feb 22, 2025

Bitcoin and housing market collide as home sellers increasingly accept crypto

Last month, there were 71 listings that mentioned crypto or bitcoin in their descriptions on the real estate listing site. That's 14.3 listings per 100,000 homes, or the highest rate on record.

When real estate agent Whitney Pannell listed an investment home that she bought and renovated for $300,000, she added an unusual note to the description: "Sellers are accepting Bitcoin for this home."

“I’m a firm believer in bitcoin — I believe it will be the future,” said Pannell, who has been investing seriously in the digital coin since 2019 with her husband, Rick. She had heard of properties in California selling for bitcoin years ago, but not in her home market of Lexington, Kentucky. “I figured somebody will do it, why not us?”

She's not alone. More sellers — albeit still a small segment — are trying to get in on bitcoin and cryptocurrency through the hot housing market, according to Realtor.com data provided to Yahoo Money.

Last month, there were 71 listings that mentioned crypto or bitcoin in their descriptions on the real estate listing site. That's 14.3 listings per 100,000 homes, the highest rate on record, according to the data.

The previous high occurred in March 2018, during cryptocurrency’s last peak in popularity and prices. At that point, Realtor.com saw 12.7 listings per 100,000 homes.

“If the cryptocurrency market can get a firmer foothold and grow confidence from the general public, we may see a wider adoption of home sellers accepting cryptocurrencies as payment,” Nicolas Bedo, an economic research analyst at Realtor.com, told Yahoo Money.

Bitcoin has surged more than 500% in the past year, from less than $10,000 to the current price of almost $60,000. The cryptocurrency now has a market value of more than $1 trillion, according to CoinMarketCap.com.

Other digital tokens, including ethereum, Binance coin, and Dogecoin have also rallied as investors pile into the sector, pushing the value of the more than 6,000 crypto coins past a total of $2.25 trillion.

At the same time, home values increased 12% year over year in February, the highest annual gain recorded by the S&P CoreLogic Case-Shiller national home price index since February 2006 — or two months shy of the last peak in housing.

“Bitcoin has appreciated about 200% a year, while the Lexington market did 3% — now 10% with what’s going on — but far less than what bitcoin has appreciated,” Pannell said. “It’s just about finding that buyer.”

Raul Chavez of 800buykwik.com agrees and is instructing his real estate agents to note in listings that cryptocurrency is accepted. Chavez has been a house flipper in California — an investor who buys homes, fixes them up, and quickly resells them — since 2000.

Lately, he’s also been investing in bitcoin and ethereum.

“I feel in the long run, bitcoin will have the higher opportunity,” Chavez, who seriously got into the crypto market in April of last year, told Yahoo Money. “Yes, it’s more volatile, but 10 years from now, this is where the world is headed.”

His only problem is finding new homes to buy and flip for crypto in a housing market suffering from inventory shortages. The number of homes for sale at the end of March hit 1.07 million units, down 28.2% from a year ago and near historic lows, according to the National Association of Realtors.

“It's definitely a very hot housing market,” he said.

Potentially too hot to hold out for bitcoin buyers: Both listings that Chavez and Pannell put up are under contract to buyers offering run-of-the-mill U.S. dollars.

“No bitcoin offers, but we did sell it after multiple offers over the asking price,” Pannell said. “We’re not at the point that we’ll turn away all cash.”

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advance.
Israeli Minister Urges Hamas to Surrender and Depart from Gaza.
Iran Considers Moving Its Capital Due to Urban Difficulties
Israel and Hamas Finalize Sixth Exchange of Hostages and Prisoners During Continuing Gaza Ceasefire
Leaders of BRICS to Gather in Rio de Janeiro for July Summit
Muhsin Hendricks, a trailblazing openly gay imam, was killed in South Africa.
Trump's special envoy for hostage affairs cautions Hamas against challenging Trump before Saturday's deadline.
Two British citizens apprehended in Iran amid escalating tensions.
Israel Issues Threat of Military Action as Hostage Negotiations with Hamas Continue
Hamas Coordinates Worldwide Solidarity Marches in Reaction to U.S. and Israeli Initiative
Israel Warns of Ending Gaza Ceasefire Due to Hostage Situation
King Abdullah II Dismisses US Proposal to Relocate Palestinians, Commits to Welcoming Gaza Children.
Lebanon Installs New Government with Hezbollah's Impact on Key Ministries
Report: Iran Attempted to Assassinate Trump During Election Campaign
U.S. Authorizes $7.4 Billion Arms Sale to Israel
Iran's Supreme Leader Rejects Nuclear Negotiations with the U.S.
UN Chief Denounces Trump's Gaza Plan, Cautions Against Ethnic Cleansing
Pressure Intensifies for a Free Trade Agreement between the UK and GCC in Light of Economic Difficulties
Israel to Withdraw from UN Human Rights Council Due to Accusations of Anti-Semitism
EU Reaffirms Gaza's Essential Role in Future Palestinian State Following Trump's Proposal
Iranian Currency Reaches All-Time Low Amid US 'Maximum Pressure' Initiative.
UN Reaffirms Ban on Deportation from Occupied Territories Amid US Gaza Proposal
Palestinians Fear Repeat of 'Nakba' Amid Ongoing Crisis in Gaza
UAE Aids in the Exchange of 300 Prisoners Between Russia and Ukraine
Egypt Seeks Global Backing for Two-State Solution Following US Proposal for Gaza Plan
Trump's Suggestion to 'Seize Control' of Gaza Represents a Significant Shift in US Policy
French President is the first EU leader to extend congratulations to the new Syrian President.
Tunisian President Appoints New Finance Minister Amid Economic Crisis
Trump Suggests U.S. 'Takeover' of Gaza, Prompting Global Worries
Trump's Proposal for Gaza Provokes Global Debate
President Trump Suggests Moving Gaza's Palestinian Population
Aga Khan IV, Spiritual Leader and Philanthropist, Dies at 88
Erdogan and Syria's Sharaa Talk About Collaboration to Counter Kurdish Militants
Trump Suggests U.S. Control of Gaza Strip Amid Ongoing Conflict
Trump Resumes 'Maximum Pressure' Strategy to Limit Iran's Oil Exports.
Ex-British Soldier Sentenced for Espionage on Behalf of Iran and Fleeing from Prison
Gazans in Egypt Reject Displacement, Struggle with Return to War-Torn Home
Queen Rania Urges Protection of Children’s Rights at Vatican Summit
Hamas Officials Ready to Begin Negotiations for Phase Two of Gaza Truce
Trump Expresses Caution Over Gaza Ceasefire as Netanyahu Visits Washington
Oman to Host 18th Indian Ocean Conference on Maritime Security and Trade
Emir of Kuwait Meets BlackRock CEO for Talks on Investment Opportunities
Queen Rania of Jordan Calls for Global Action on Children’s Rights at Vatican Summit
Egyptian President El-Sisi Invited for White House Meeting Following Jordanian King’s Visit
Queen Rania Calls for Protection of Children’s Rights at Vatican Summit
Israeli Military Operations Continue on Lebanon Border Amid Ceasefire Tensions
Israeli Hostage's Release Highlights Uncertainty Over Family's Fate
Israeli Military Operations Escalate in Southern Lebanon Amid Hezbollah Tensions
Zayed Award for Human Fraternity Announces 2025 Honorees
Kuwait Anticipates a 12% Increase in Budget Deficit for the 2025-2026 Fiscal Year
×