Median Down Payments Reach Nearly 15-Year High
December 17, 2018
Home buyers are bringing more money to the closing table. The median down payment on single-family homes and condos purchased with financing in the third quarter was $20,250—up 7 percent from the previous quarter. The median down payment as a percentage of the median home sales price was 7.6 percent in the third quarter—the highest percentage since the fourth quarter of 2003, according to ATTOM Data Solutions, a real estate data provider.
Among the 96 metro areas ATTOM tracked, the cities with the highest median down payments as a percentage of the median home sales price were:
- San Jose, Calif. (24.7%)
- San Francisco (23.3%)
- Los Angeles (20.6%)
- Oxnard-Thousand Oaks-Ventura, Calif. (19%)
- Fort Collins, Colo. (18.6%).
“Residential Mortgage Originations Drop 21 Percent to Q3 2018,” ATTOM Data Solutions (Dec. 11, 2018)
Updated: August 19, 2019