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Bay Area Home Buyers Still Lead the Nation for Down-Payment Size

  • The average U.S. down payment was $20,000 in the third quarter, a 17-year high.
  • Buyers in the San Jose and San Francisco metropolitan areas again made the largest down payments in the country, a respective $247,000 and $170,000.
  • San Jose has the nation’s largest number of co-borrowers, with more than half of loans involving multiple mortgage holders.
The average U.S. down-payment size reached a new high in the third quarter, with Silicon Valley homebuyers putting down 12 times the national amount. ATTOM Data Solutions’ latest U.S. Residential Property Loan Origination Report says that the median down payment for single-family homes and condominiums was $20,000 in the third quarter, the highest since the company began tracking that data 17 years ago. That represents 7.6 percent of the national median sales price of $263,000, the largest percentage recorded since 2013. “Buying a home has become a full-contact sport in many markets across the country, and buyers with the beefiest down payments — not to mention all-cash buyers — are often able to muscle out those with scrawnier savings,” ATTOM Data Solutions Senior Vice President Daren Blomquist said in a statement accompanying the report. The median down payment was more than $50,000 in just one-dozen of the U.S. real estate markets included in the analysis, and as in the second quarter, that includes the Bay Area’s two largest cities. Click here to read more (Photo: iStock/????? ??????)