Bigger Down Payments Continue in Q4 2024 as Homeowners Use Pandemic Era Savings and Increased Home Equity
Down payments reached historic highs in 2024, with buyers paying an average of 14.4% ($29,900) of purchase price, up from 14.2% ($27,200) in 2023. The Q4 2024 typical down payment was $30,250, approximately $3,000 higher than the previous year and 3.4 percentage points above pre-pandemic levels.
The increase is attributed to pandemic-era savings and near-record high existing home equity. Housing activity grew 7.4% in the $750,000-plus price range while declining 9.3% in lower-priced segments. The 30th percentile down payment, representing modest payments, was $8,200 in Q4 2024, up 6.5% year-over-year but below the pandemic peak of $10,300 in Q2 2022.
I pagamenti iniziali hanno raggiunto livelli storici nel 2024, con i compratori che hanno pagato una media del 14,4% ($29.900) del prezzo di acquisto, in aumento rispetto al 14,2% ($27.200) del 2023. Il quarto trimestre del 2024 ha visto un pagamento iniziale tipico di $30.250, circa $3.000 in più rispetto all'anno precedente e 3,4 punti percentuali sopra i livelli pre-pandemia.
L'aumento è attribuito ai risparmi accumulati durante la pandemia e all'elevato valore patrimoniale delle abitazioni esistenti. L'attività abitativa è cresciuta del 7,4% nella fascia di prezzo oltre $750.000, mentre è diminuita del 9,3% nei segmenti a prezzo inferiore. Il pagamento iniziale del 30° percentile, che rappresenta pagamenti modesti, era di $8.200 nel quarto trimestre del 2024, con un aumento del 6,5% rispetto all'anno precedente, ma al di sotto del picco pandemico di $10.300 nel secondo trimestre del 2022.
Los pagos iniciales alcanzaron niveles históricos en 2024, con los compradores pagando un promedio del 14,4% ($29,900) del precio de compra, en comparación con el 14,2% ($27,200) en 2023. El cuarto trimestre de 2024 tuvo un pago inicial típico de $30,250, aproximadamente $3,000 más que el año anterior y 3,4 puntos porcentuales por encima de los niveles prepandémicos.
El aumento se atribuye a los ahorros de la era de la pandemia y al alto valor del capital de las viviendas existentes. La actividad en el mercado de la vivienda creció un 7,4% en el rango de precios superior a $750,000, mientras que disminuyó un 9,3% en los segmentos de precios más bajos. El pago inicial del percentil 30, que representa pagos modestos, fue de $8,200 en el cuarto trimestre de 2024, con un aumento del 6,5% interanual, pero por debajo del pico pandémico de $10,300 en el segundo trimestre de 2022.
다운 페이먼트는 2024년에 역사적인 최고치를 기록했으며, 구매자들은 구매 가격의 평균 14.4%($29,900)를 지불했습니다. 이는 2023년의 14.2%($27,200)에서 증가한 수치입니다. 2024년 4분기의 전형적인 다운 페이먼트는 $30,250로, 전년 대비 약 $3,000 증가했으며, 팬데믹 이전 수준보다 3.4%포인트 높습니다.
이 증가의 원인은 팬데믹 기간 동안의 저축과 거의 기록적인 수준의 기존 주택 자산에 기인합니다. 주택 활동은 $750,000 이상의 가격 범위에서 7.4% 성장한 반면, 저가 세그먼트에서는 9.3% 감소했습니다. 30번째 백분위수의 다운 페이먼트는 2024년 4분기에 $8,200로, 전년 대비 6.5% 증가했지만 2022년 2분기의 팬데믹 최고치인 $10,300에는 미치지 못했습니다.
Les acomptes ont atteint des niveaux historiques en 2024, les acheteurs payant en moyenne 14,4% ($29,900) du prix d'achat, contre 14,2% ($27,200) en 2023. Le quatrième trimestre 2024 a enregistré un acompte typique de $30,250, soit environ $3,000 de plus que l'année précédente et 3,4 points de pourcentage au-dessus des niveaux d'avant la pandémie.
Cette augmentation est attribuée aux épargnes accumulées pendant la pandémie et à l'équité immobilière existante presque à un niveau record. L'activité immobilière a augmenté de 7,4% dans la tranche de prix supérieure à $750,000, tandis qu'elle a diminué de 9,3% dans les segments de prix inférieurs. L'acompte du 30e percentile, représentant des paiements modestes, était de $8,200 au quatrième trimestre 2024, en hausse de 6,5% par rapport à l'année précédente, mais en dessous du pic pandémique de $10,300 au deuxième trimestre 2022.
Anzahlungen erreichten 2024 historische Höchststände, wobei Käufer im Durchschnitt 14,4% ($29.900) des Kaufpreises zahlten, im Vergleich zu 14,2% ($27.200) im Jahr 2023. Die Q4 2024 typische Anzahlung betrug $30.250, etwa $3.000 höher als im Vorjahr und 3,4 Prozentpunkte über dem Niveau vor der Pandemie.
Der Anstieg wird den Pandemie-Ersparnissen und dem nahezu rekordhohen Eigenkapital bestehender Wohnungen zugeschrieben. Die Wohnungsaktivität wuchs im Preisbereich über $750.000 um 7,4%, während sie in niedrigeren Preissegmenten um 9,3% zurückging. Die Anzahlung des 30. Perzentils, die bescheidene Zahlungen darstellt, betrug im Q4 2024 $8.200, was einem Anstieg von 6,5% im Jahresvergleich entspricht, aber unter dem pandemiebedingten Höchststand von $10.300 im Q2 2022 liegt.
- Housing activity in $750,000+ segment grew 7.4% in 2024
- Modest down payments increased 6.5% year-over-year in Q4 2024
- Higher down payments indicate financially stronger buyers in the market
- Home sales below $750,000 decreased 9.3% in 2024
- Entry-level and lower-earning buyers being priced out of the market
- Market remains skewed toward high-end properties, limiting accessibility
2024 Saw the Highest Down Payments in the Data's History, Both as a Dollar Amount and as a Share of Purchase Price, according to Realtor.com®
"As inventory recovers, the housing market is very slowly tilting toward more balance between buyers and sellers. But down payments are still high—hitting an annual record in 2024," said Danielle Hale, Chief Economist, Realtor.com®. "Today's home sales are skewed toward higher-end homes, and this means larger down payments from more financially prepared, high-earning buyers as entry-level and lower-earning buyers sit out. Additionally, higher mortgage rates give homebuyers good reason to limit their loan size and interest costs, by putting more down upfront. As long as the market remains tilted toward buyers who are less sensitive to home prices and mortgage rates, down payments are likely to remain relatively high."
Buyers paid
Homebuyers Utilize Pandemic-Era Savings and Home Equity
Homebuyers have been utilizing pandemic era savings to fuel consumer spending and larger down payments. In the three years before the pandemic, consumers saved
Despite a lower savings rate since the pandemic highs, which would normally suggest buyers would have a harder time saving for a large down payment, the typical down payment dollar amount is still 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.
Still-large accumulations of pandemic savings likely help some homebuyers, especially buyers who also have the benefit of near-record high existing home equity that can boost a down payment, as well.
Down Payment Trends Vary by Home Price Point
Housing activity is growing in the high-priced segment while shrinking in lower-priced segments, which has pushed the median sale price and median down payment amount higher. Home sales picked up in the
Modest down payments, those typically used by a first-time home buyer or buyers utilizing government-backed loan options such as FHA or VA-loans, saw growth in payments as well, but are below the pandemic peak.
In the fourth quarter of 2024, the 30th percentile down payment, a good proxy for modest down payments, was
"As mortgage rates ease, a more diverse set of buyers, in terms of budgets, will likely enter the market, and the incentive to minimize their home loan will soften," said Hale. "However, if for-sale inventory fails to keep up with increased buyer demand, down payments could climb once again as the result of increased competition."
To learn more about down payment trends and read the full report, visit our research portal.
Methodology
Down payment trends analyzed at the national- and top-150-metro-level through Q4 of 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 fourth quarter of the current and previous years unless otherwise stated. 'Modest' down payments are approximated as the 30th percentile by down payment amount and down payment share.
About Realtor.com®
Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media contact: Mallory Micetich, press@realtor.com
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SOURCE Realtor.com
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