The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Redfin reports over one-third of home purchases in February were made in all cash—not far from the record high SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The median down payment for U.S. homebuyers was $55,640 in February, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022.The typical homebuyer’s down payment last month was equal to 15% of the purchase price, up from 10% a year earlier.This is based on a Redfin analysis of county records across 40 of the most populous U.S. metropolitan areas going back through 2011.“Homebuyers are doing whatever they can to pull together a large down payment in order to lower their monthly payments moving forward,” said Rachel Riva, a Redfin real estate agent in Miami. “The smallest down payment I’ve seen recently is 25%. I had one client who put down 40%.”Home prices rose 6.6% year over year in
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RDFN
Earnings
- 2/27/24 - Beat
RDFN
Sec Filings
- 4/26/24 - Form 3
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- RDFN's page on the SEC website