The housing market is undergoing drastic changes and the average down payment is one of the metrics that is shifting. According to research and data from Unison Home Ownership Investors, the average down payment for a mortgage dropped for the sixth consecutive month to 10.3 percent, compared to the average of 11.3 percent the same time a year ago.

The data from Unison Home Ownership Investors reveals that this drop can be attributed to two main sources. One factor is an increase in subprime lending, which has enabled more people to buy a home without being able to come up with a substantial down payment. In addition, lower credit scores are also being accepted in some cases, which helps lower the average down payment amount.

In addition to this data, the report also showed that there has been a sharp increase in cash buyers, who don’t need a down payment at all. This is driven by investors who are buying up properties to have a continuous source of rental income or to flip them for profit.

The median home price in the United States is currently $313,000, and the median down payment is $31,146. While this is a substantial amount of money, it is still much lower than it was a year ago. This indicates that the housing market is still relatively affordable for those who do not have a large amount of cash to make a down payment. As such, more people are entering the housing market, fueling the economy and demand for housing.

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