By Jann Swanson
Posted To: MND NewsWire
It seems counterintuitive, but RealtyTrac said today that persons purchasing homes in the highest priced communities in the US last year made significantly higher down payments on a percentage basis than did those purchasing in the least expensive communities – twice as large as a matter of fact. In the 25 least costly count-ies in the U.S. the average down payment on a single-family or condominium purchase was 24 percent in 2014 as opposed to 12 percent in the 25 least expensive counties. This number becomes even more surprising when those percentages are translated into dollars; an average of $138,547 versus $8,239. The national average for down payments last year across the 386 counties in which RealtyTrac analyzed purchase loan and sales date was 14 percent or an average of $32,141. The…(read more)
Via:: RealtyTrac Analysis points to Millennial-Friendly Markets
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