1046 ET - Homebuyers across the U.S. put down more money than ever in 2024, setting a record for down payment size and percentage of purchase price. But data in a new report from Realtor.com shows a divided market: while down payments soared in the Northeast and Midwest, they declined in several Southern and Western states, reflecting shifting market dynamics. In states such as Delaware and Rhode Island, down payments surged by more than 30% annually. In contrast, pandemic-era boom states such as Texas and Florida saw double-digit declines, with down payments falling as much as 16.5% year-over-year. Delaware led the nation with a 38.6% rise in median down payments, reaching $49,000, followed by Rhode Island at 32.8% and Maine at 32%. The Midwest and Northeast continue to see intense buyer demand. Both suffer from relatively severe housing supply gaps due to low construction relative to buyer demand, Realtor.com says.(chris.wack@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 10:46 ET (14:46 GMT)
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