DOWNPAYMENT DATA

For the five years ending 1/20, the median down payment was 10% of the home purchase price. Since then, it’s almost steadily risen and is now 18.6%. Consequently, the down payment dollar amount has jumped from $30,000 pre-Covid to almost $70,000. Reasons for the rise include the rise in stock prices, the decline in first-time buyers, and the rise in home equity for buyers who are selling another home.