Down Payments Are Up: Here’s Where They’re Highest
Faced with more expensive home prices, home buyers are bringing more money to closing. The median down payment on a single-family home and condo purchased in the third quarter increased by nearly 67% compared to a year ago. Median down payments are at the highest level recorded since at least 2000, according to a new analysis from ATTOM Data Solutions, a real estate data firm.
The median down payment of $20,775 was 6.6% of the median sales price for homes purchased with financing in the third quarter. The median loan amount was $275,500, the highest level since 2000….Read More
More great articles here:
- 10 Markets to Lead Post-Pandemic Rally
- Exodus to the Suburbs Appears to Be Reversing
- The Pandemic Leads to Surge in Multigenerational Households
- How to Work With Different Generations