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Homebuyers are putting less money down now, as bidding wars fade

Posted on AllSides March 22nd, 2023
From The Left

Homebuyers aren't putting as much money down as they were at the height of the housing frenzy.

What's happening: The typical U.S. homebuyer made a down payment of $42,000 in January, the lowest number in almost two years, per a report out from Redfin Wednesday morning, provided exclusively to Axios.

The median downpayment is now 10% of the purchase price of the house, off its peak of 17.5%, (which amounted to $65,000), in May 2022.

State of play: High mortgage rates changed the calculus around down payments.

The rates crushed the market and drove a lot...

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