Core Insights - The average down payment for homebuyers between July 2024 and June 2025 is approximately 19% of the purchase price, marking the highest share in over 30 years [1][9] - This figure is nearly double the down payment percentage seen in the years following the 2008–09 housing crash and significantly higher than the 12% average just before the pandemic in 2020 [2] Down Payment Trends - Down payments have been steadily increasing over the past decade, indicating that current buyers are generally better-resourced or equity-rich [2] - A 19% down payment translates to about $82,300 based on the median U.S. home price of $433,200 [2] First-Time vs. Repeat Buyers - First-time buyers typically make a down payment of about 10%, which is approximately $43,300 on a median-priced home, while repeat buyers average 23%, or about $99,600 [4] - The disparity in down payment amounts is attributed to the funding sources; first-time buyers often rely on savings and assistance, whereas repeat buyers utilize proceeds from previous home sales [5] Financial Implications of Down Payments - Paying a 20% down payment can save buyers thousands by avoiding private mortgage insurance (PMI), which can add significant monthly costs [6][9] - For instance, a 10% down payment on a median-priced home results in a loan balance of about $389,900, with PMI adding roughly $3,900 annually, equating to over $19,500 in five years without building equity [8] Strategies for Saving - To reach a 20% down payment and avoid PMI, buyers are encouraged to automate savings into high-yield accounts or consider certificates of deposit (CDs) for guaranteed growth [10][11]

Core Insights - Homebuyers are currently making larger down payments, averaging 19% of the purchase price, the highest in over 30 years, nearly double the amounts seen after the 2008-09 housing crash and significantly higher than the 13% average before the pandemic in 2020 [1][4][5] Down Payments Overview - The average down payment for homebuyers between July 2024 and June 2025 is approximately $78,000 based on a median home price of $410,800 [2] - First-time buyers typically put down about 10% (around $41,000), while repeat buyers average 23% (approximately $94,000) [4][5] Financial Implications - Paying 20% down allows buyers to avoid private mortgage insurance (PMI), which can save hundreds monthly and thousands over time [4][8] - A 10% down payment on a median-priced home results in a loan balance of about $369,700, with PMI adding roughly $3,700 annually, equating to over $18,000 in extra costs over five years [9] Buyer Profiles - First-time buyers often rely on savings, gifts, or assistance programs, while repeat buyers utilize proceeds from previous home sales, leading to higher down payments for the latter [6] Strategies for Down Payment Growth - To increase down payment savings, buyers can automate deposits into high-yield savings accounts or lock in competitive rates with certificates of deposit (CDs) [10][11]