Down Payments Double, Affordable Square Footage Shrinks
Two new reports underscore the affordability challenges buyers face in today’s housing market.
Down Payments Reached a New Peak in 2017
Rising home prices drove up the average size of down payments on single-family homes and condos to a new record in the third quarter of 2017, according to the January 2018 Down Payment Report.
Buyers Made Larger Down Payments In 2017
The median down payment for single-family homes and condos purchased with financing in the third quarter rose to a record high, according to a new report.
Down Payments Shrinking In Competitive Market
Average down payment amounts decreased nationwide in May, but the percent of first-time homebuyers putting low down payments on homes decreased, according to the July Down Payment Resource Report.
