Down Payments Double, Affordable Square Footage Shrinks
Two new reports underscore the affordability challenges buyers face in today’s housing market.
Two new reports underscore the affordability challenges buyers face in today’s housing market.
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.
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.
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.