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Behind the Trend of Larger Down Payments

An improving economy with gradually improving wage growth is helping more buyers to pull together a sizable down payment on a home, ATTOM Data Solutions' Daren Blomquist tells GlobeSt.com.

By Carrie Rossenfeld | Updated on December 29, 2017

Daren Blomquist Blomquist: “A higher down payment typically indicates the buyer will most likely qualify for a loan, making it less likely that the deal will actually close and close on time.”

IRVINE, CA—An improving economy with gradually improving wage growth is helping more buyers to pull together a sizable down payment on a home, ATTOM Data Solutions‘ SVP Daren Blomquist tells GlobeSt.com. According to a recent report from the firm, the median down payment for a home increased in Q3 to a new high of $20,000, up from $18,161 in the previous quarter and up from $14,400 in Q3 2016; the new high goes as far back as data is available, to Q1 2000.

We spoke with Blomquist about the factors enabling buyers to put down these larger down payments and what advantages this practice affords them.

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