For the fourth consecutive quarter, median downpayments fell in the first quarter of 2026, according to Realtor.com. The new level of $23,400 is the lowest since 2021.
The Realtor.com analysis describes a 19% year-over-year decline in typical downpayments. It attributes this dip to increased inventory and moderating home prices, which give buyers “more negotiating room and reduce the pressure to lead with an outsized downpayment.”
Hannah Jones, senior economist for the listings platform, said the numbers represent a market shift toward buyers.
“High prices and borrowing costs continue to test affordability, and while conditions are improving, some of the buyers reentering the market are doing so via government-backed programs that have lower downpayment requirements,” Jones noted in a press release. “That tells us the market is broadening, but the path to homeownership remains a difficult one for many households.”
Downpayments saw a steep spike between 2020 and 2022, as consumers took advantage of low rates and had to pay more cash upfront to win deals against strong competition and rising housing prices. The peak occurred during the second quarter of 2024, when the median downpayment of $32,700 represented 15.1% of the typical purchase price.
Before the COVID-19 pandemic, downpayment levels were considerably lower. In the first quarter of 2019, the median downpayment was $12,500, or 10.7%. Six years later, in the first quarter of 2025, the median downpayment had climbed to $28,900, or 14%.
Since that quarter, downpayments have continued to fall. Realtor.com noted that its “Market Clock” — a research tool that combines various housing data points into a single indicator — “shows balanced or buyer-friendly conditions across much of the country, consistent with the directional shift in downpayment data.”
Nothing is certain, though. The company offered the caveat that “the latest data offers a mixed early signal on whether that trend will continue,” pointing out that in March and April, downpayments ticked up in what it describes as a seasonally typical occurrence.
