Median Down Payments Reach Nearly 15-Year High | Realtor Magazine
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%).