Homebuyer’s Down Payment Hits ‘Record High,’ Surging Nearly 15 Percent in a Year

The upfront payments made by buyers accounted for 18.6 percent of the property price, highest in 10 years.

Homes for sale sign in Maryland on Nov. 12, 2023. Madalina Vasiliu/The Epoch Times

The median down payment for buying a home in the United States has jumped to an all-time high, driven by factors like high home prices and mortgage rates, according to a report by real estate brokerage Redfin.

“The typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8 percent from $58,788 a year earlier,” according to an Aug. 28 news release. Year-over-year down payment costs have been rising continuously over the past months, with June recording the 12th straight month of increase.