Back From the Brink: Home Buyers Retreat from Record-High Down Payments, According to Realtor.com®
Realtor.com's bi-annual down payment report reveals that home buyers are retreating from record-high down payments. In Q3 2024, nationwide down payments reached an average of 14.5% and a median amount of $30,300, down from Q2 2024's historical peak of 14.9% and $32,700. This decline is attributed to easing mortgage rates and improved affordability conditions.
Key findings include:
- Down payments remain historically high, more than double the pre-pandemic median
- Northeast states saw climbing down payments, with Maine and Rhode Island increasing the most
- Down payments shrank annually in half of the U.S. states
- Florida experienced a 24% year-over-year drop in down payments
- The District of Columbia saw the largest absolute decline, with down payments dropping over $17,000 year-over-year
Experts suggest that easing demand and increasing inventory gave buyers more flexibility, leading to slightly lower down payments. However, it's too early to determine if this is the beginning of a lasting downward trend.
Il rapporto semestrale sui pagamenti iniziali di Realtor.com rivela che gli acquirenti di case si stanno allontanando dai pagamenti iniziali record. Nel terzo trimestre del 2024, i pagamenti iniziali a livello nazionale hanno raggiunto una media del 14,5% e un importo mediano di 30.300 dollari, in calo rispetto al picco storico del secondo trimestre del 2024 del 14,9% e 32.700 dollari. Questo calo è attribuito a un abbassamento dei tassi ipotecari e a condizioni di maggiore accessibilità.
I risultati chiave includono:
- I pagamenti iniziali rimangono storicamente elevati, più del doppio della mediana pre-pandemia
- Gli stati del Nordest hanno visto aumenti nei pagamenti iniziali, con il Maine e il Rhode Island che hanno registrato gli aumenti maggiori
- I pagamenti iniziali sono diminuiti annualmente in metà degli stati americani
- La Florida ha registrato un calo del 24% anno su anno nei pagamenti iniziali
- Il Distretto di Columbia ha visto la più grande diminuzione assoluta, con i pagamenti iniziali in calo di oltre 17.000 dollari anno su anno
Gli esperti suggeriscono che la domanda in diminuzione e l'aumento dell'inventario abbiano dato agli acquirenti maggiore flessibilità, portando a pagamenti iniziali leggermente inferiori. Tuttavia, è troppo presto per determinare se questo segna l'inizio di una tendenza al ribasso duratura.
El informe semestral sobre pagos iniciales de Realtor.com revela que los compradores de viviendas se están alejando de los pagos iniciales récord. En el tercer trimestre de 2024, los pagos iniciales a nivel nacional alcanzaron un promedio del 14,5% y una cantidad mediana de 30.300 dólares, una disminución respecto al pico histórico del segundo trimestre de 2024, que fue del 14,9% y 32.700 dólares. Este descenso se atribuye a la disminución de las tasas hipotecarias y a condiciones de mayor asequibilidad.
Los hallazgos clave incluyen:
- Los pagos iniciales se mantienen históricamente altos, más del doble de la mediana previa a la pandemia
- Los estados del noreste vieron un aumento en los pagos iniciales, siendo Maine y Rhode Island los que más aumentaron
- Los pagos iniciales disminuyeron anualmente en la mitad de los estados de EE.UU.
- Florida experimentó una caída del 24% interanual en los pagos iniciales
- El Distrito de Columbia registró la mayor disminución absoluta, con pagos iniciales cayendo más de 17.000 dólares interanual
Los expertos sugieren que la disminución de la demanda y el aumento del inventario le dieron a los compradores más flexibilidad, lo que llevó a pagos iniciales ligeramente más bajos. Sin embargo, es demasiado pronto para determinar si esto es el comienzo de una tendencia a la baja duradera.
Realtor.com의 반기 계약금 보고서는 주택 구매자들이 사상 최고 수준의 계약금에서 물러나고 있다고 밝혔습니다. 2024년 3분기, 전국 평균 계약금은 14.5%에 달하고, 중간 금액은 $30,300으로, 2024년 2분기 역사적인 최고치인 14.9%와 $32,700에서 감소했습니다. 이 감소는 모기지 금리의 완화와 개선된 주택 구매 가능성에 기인합니다.
주요 발견 사항은 다음과 같습니다:
- 계약금은 역사적으로 높은 수준으로, 팬데믹 전 중간값의 두 배 이상입니다.
- 북동부 주에서 계약금이 증가했으며, 메인주와 로드아일랜드가 가장 많이 증가했습니다.
- 미국의 절반 주에서 계약금이 연간 감소했습니다.
- 플로리다에서는 계약금이 지난해보다 24% 감소했습니다.
- 워싱턴 D.C.에서는 계약금이 전년 대비 17,000달러 이상 하락하며 가장 큰 절대적 감소를 보였습니다.
전문가들은 수요가 줄어들고 재고가 증가함에 따라 구매자들에게 더 많은 유연성이 생겨 계약금이 약간 낮아졌다고 제안합니다. 그러나 이것이 지속적인 하강 추세의 시작인지 판단하기에는 아직 이릅니다.
Le rapport semestriel sur les acomptes de Realtor.com révèle que les acheteurs de maisons se retirent des acomptes record. Au troisième trimestre de 2024, les acomptes à l'échelle nationale ont atteint une moyenne de 14,5% et un montant médian de 30 300 dollars, en baisse par rapport au pic historique de 14,9% et 32 700 dollars du deuxième trimestre 2024. Ce déclin est attribué à l'assouplissement des taux hypothécaires et à des conditions d'accessibilité améliorées.
Les résultats clés incluent :
- Les acomptes restent historiquement élevés, plus du double de la médiane d'avant la pandémie
- Les États du Nord-Est ont connu une hausse des acomptes, avec le Maine et le Rhode Island enregistrant les plus fortes augmentations
- Les acomptes ont diminué annuellement dans la moitié des États-Unis
- La Floride a connu une baisse de 24% des acomptes par rapport à l'année précédente
- Le District de Columbia a enregistré la plus grande baisse absolue, avec des acomptes diminuant de plus de 17 000 dollars d'une année sur l'autre
Les experts suggèrent que la baisse de la demande et l'augmentation de l'inventaire ont donné plus de flexibilité aux acheteurs, entraînant des acomptes légèrement plus bas. Cependant, il est encore trop tôt pour déterminer si cela marque le début d'une tendance à la baisse durable.
Der halbjährliche Bericht von Realtor.com über Anzahlungen zeigt, dass Hauskäufer sich von rekordhohen Anzahlungen zurückziehen. Im dritten Quartal 2024 erreichten die landesweiten Anzahlungen im Durchschnitt 14,5% und einen Medianbetrag von 30.300 Dollar, was einen Rückgang gegenüber dem historischen Höchststand von 14,9% und 32.700 Dollar im zweiten Quartal 2024 bedeutet. Dieser Rückgang wird auf sinkende Hypothekenzinsen und verbesserte Erschwinglichkeitsbedingungen zurückgeführt.
Wichtige Ergebnisse sind:
- Anzahlungen bleiben historisch hoch, mehr als doppelt so hoch wie der Median vor der Pandemie
- Die Bundesstaaten im Nordosten verzeichneten steigende Anzahlungen, wobei Maine und Rhode Island die höchsten Zuwächse aufwiesen
- Die Anzahlungen sanken jährlich in der Hälfte der US-Bundesstaaten
- Florida erlebte einen Rückgang der Anzahlungen von 24% im Jahresvergleich
- Der District of Columbia verzeichnete den größten absoluten Rückgang, mit einem Rückgang der Anzahlungen um über 17.000 Dollar im Jahresvergleich
Experten schlagen vor, dass die nachlassende Nachfrage und der Anstieg des Angebots den Käufern mehr Flexibilität gegeben haben, was zu leicht niedrigen Anzahlungen führte. Es ist jedoch zu früh zu sagen, ob dies der Beginn eines dauerhaften Abwärtstrends ist.
- None.
- None.
Down payments reached an average of
"The annual decline in down payments is the result of less buyer competition in the third quarter. Easing demand and increasing inventory gave buyers more flexibility last quarter, which led to slightly lower down payments," said Hannah Jones, senior economic research analyst, Realtor.com®. "The recent drop in mortgage rates could pave the way for more competition in the coming months, especially if rates fall further, but we haven't yet seen that reflected in home sales or down payment trends."
Primary Residence | Avg Down Payment as % of Purchase Price | Med. Down Payment ($ amt) | ||||||
2021 Q3 | 2022 Q3 | 2023 Q3 | 2024 Q3 | 2021 Q3 | 2022 Q3 | 2023 Q3 | 2024 Q3 | |
12.5 % | 13.8 % | 14.7 % | 14.5 % | |||||
Homebuyers Continue to Utilize Pandemic-Era Savings
Large accumulations of pandemic savings are likely still helping some home buyers put down a large down payment, especially buyers who also have the benefit of record high existing home equity that can boost a down payment. The typical down payment dollar amount is more than double the pre-pandemic median and the typical down payment as a share of purchase price was more than 3 percentage points higher.
Looking Forward
Down payments fell as both a share of purchase price and as a dollar amount in 2024 Q3 relative to one year prior and to the 2024 Q2 peak.
"It is too early to tell if this is the beginning of a lasting downward trend in down payments. While down payments have started to trend lower with lower demand, they remain historically high," said Jones. "Easing mortgage rates may bring more buyers back into the market, potentially increasing competition – and down payments – once again if for-sale inventory fails to keep pace with demand."
As long as housing market competition continues, down payments are likely to remain elevated nationally, but distinct trends may emerge in different markets as local competitiveness varies. Shoppers looking to navigate these trends may find that relatively affordable markets offer the opportunity to achieve homeownership and limit interest payments by using their existing savings to put a larger amount down as a down payment on a home.
Key Regional Data
Northeast States See Climbing Down Payments
At the state-level, the increase in down payment as a percent of price increased the most (1.8 percentage points) in
States with Largest Down Payment Growth in 2024 (%)
State | 2023 Q3 | 2024 Q3 | 2024 Change |
16.0 % | 17.8 % | 1.8 pp | |
16.6 % | 18.4 % | 1.8 pp | |
16.6 % | 17.8 % | 1.2 pp | |
17.5 % | 18.6 % | 1.1 pp | |
18.1 % | 19.1 % | 1.0 pp |
In terms of down dollar payment amount,
States with Largest Down Payment Dollar Growth Q3 2023-2024
State | 2023 Q3 Avg Down Payment % | 2024 Q3 Avg Down Payment % | YY (percentage pts) | 2023 Q3 Median Down Payment $ | 2024 Q3 Median Down Payment $ | YY | $ YY |
16.6 % | 18.4 % | 1.80 % | 33.3 % | ||||
17.0 % | 17.6 % | 0.60 % | 32.8 % | ||||
15.0 % | 15.9 % | 0.90 % | 25.2 % | ||||
15.0 % | 15.1 % | 0.10 % | 22.8 % | ||||
12.3 % | 12.8 % | 0.50 % | 22.8 % |
Down payments shrank annually in half of the states in the
In Q3 2024, down payments as a share of purchase price fell in 24 states, and down payment dollar amounts fell in 21 states. The lists of places with the largest decline in the percentage down and dollars down has significant overlap. Pandemic-era hotspots like
States with Biggest Down Payment Declines (%)
State | % Down 2024 Q3 | YY (percentage pts) |
17.10 % | -3.80 % | |
14.20 % | -1.70 % | |
19.10 % | -1.10 % | |
11.10 % | -1.10 % | |
19.90 % | -1.10 % | |
15.80 % | -1.00 % | |
14.50 % | -0.90 % | |
11.30 % | -0.90 % | |
19.20 % | -0.80 % | |
12.00 % | -0.70 % |
States with Biggest Down Payment Declines ($)
State | % Down 2024 Q3 | YY | $ YY |
-24.0 % | - | ||
-23.2 % | - | ||
-22.3 % | - | ||
-17.7 % | - | ||
-16.4 % | - | ||
-16.0 % | - | ||
-15.5 % | - | ||
-14.1 % | - | ||
-13.2 % | - | ||
-12.9 % | - |
To learn more, read the full report here.
Methodology:
Down payment trends analyzed at the national-, state- and top 150-metro level through Q3 2024 using Optimal Blue data. Down payment as a share of sale price is calculated as an average across the data. Down payment as a dollar amount is calculated by taking the median across the data. All comparisons are between the first quarter of the current and previous years unless otherwise stated. International viewership data is from Realtor.com Cross-Market Demand data.
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
Media Contact: Mallory Micetich, press@realtor.com
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SOURCE Realtor.com
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