Here Are The 15 Cities Where Homebuyers Are Dropping The Heftiest Down Payments
Portfolio Pulse from Bibhu Pattnaik
A Realtor.com study shows that the average down payment for homes in the U.S. decreased to 13.8% in 2023 from 14.7% in 2022. California cities lead with the highest median down payments, with San Jose-Sunnyvale-Santa Clara at the top with $235,183. Freddie Mac notes PMI costs $30-$70 per month per $100,000 borrowed. Redfin Corp., Zillow Group, Inc., Anywhere Real Estate Inc., and RE/MAX Holdings, Inc. are key players in the real estate market. ETFs like iShares U.S. Real Estate ETF and Real Estate Select Sector SPDR Fund offer diversified exposure to the sector.
November 19, 2023 | 7:11 pm
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NEUTRAL IMPACT
Freddie Mac reported on PMI costs, which may influence homebuyers' decisions and impact the mortgage market.
Freddie Mac's data on PMI costs is informative but does not directly indicate a change in their business or stock performance.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Anywhere Real Estate Inc. maintains a significant market share, which could be influenced by the reported down payment trends.
As a major player with a vast network, Anywhere Real Estate Inc. could benefit from the current trends in home buying down payments.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Redfin Corp. is recognized as a leading company in the real estate market, which may benefit from the current down payment trends.
Redfin Corp. could see a positive impact as it is a prominent player in the market, and the report highlights the dynamic nature of the industry.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
RE/MAX Holdings, Inc. leverages its brand to maintain market share, which could be affected by the down payment trends.
RE/MAX Holdings, Inc.'s established brand and network place it in a position to potentially capitalize on the changes in down payment trends.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70