Down payments have been relatively flat lately. In fact, according to one new analysis from the National Association of Realtors’ consumer website, the average down payment hasn’t changed much at all over the past year. During the third quarter of this year, the typical down payment was $30,400, 14.4 percent of purchase price. Last year at the same time, down payments were $30,300 or 14.5 percent of purchase price. Danielle Hale, the website’s chief economist, says it’s a reflection of the overall housing market. “Down payments remain elevated but steady, reflecting the broader housing environment,” Hale said. “High prices and borrowing costs continue to test affordability, keeping many potential buyers on the sidelines and slowing overall sales activity.” Rising home prices have also pushed down payments higher – as has the share of equity rich homeowners who’ve sold over the past few years and used their profits to purchase a new home. The typical down payment in 2019 was $13,900. (source)
