Down payments hit record highs nationwide, but Cape Coral sees significant drop

Homebuyers across the U.S. are putting down more money than ever before in 2024, setting a new record for both down payment size and percentage of purchase, according to a report from Realtor.com.

However, pandemic-era boom states like Texas and Florida saw double-digit declines in down payments.

Cape Coral topped the list with a 31.2 percent decline in down payments last year.

The report states the decline is due in part to stagnant or falling home prices.

The trend is affecting the entire state of Florida. Of the top 10 cities that saw the largest declines in down payments in the U.S., six of them are in Florida.

The median down payment for a home in Cape Coral last year was $21,328.

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