Down payments drop for the first time in nearly 2 years

Plus: Texas' 5 largest landowners

June 17, 2025

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👋 Good morning! Today's newsletter is 651 words — a 2.5-minute read. Let’s go…

🗓 Programming note: We're off on Thursday for Juneteenth.

1. Down payments drop for the first time in nearly 2 yrs

According to a new report from Redfin, the typical homebuyer’s down payment is $62,468, down roughly 1% YoY — the first annual decline in nearly two years. 

In percentage terms, the typical homebuyer put down 15% of the purchase price in April, compared with 15.1% during the same month last year.

The last time the dollar amount of a typical down payment fell YoY was in the summer of 2023, primarily due to declining home prices. While that dynamic is not in play in 2025, home price growth is slowing. In April 2025, home prices grew by 1.4% YoY, compared with 4% during the same time last year.

2. Realtor.com CEO slams private listings

Realtor.com CEO Damian Eales on Monday slammed advocates of private listings, calling their arguments 'utter nonsense' and suggesting they will end up on the wrong side of history.

Eales made the argument in a blog post, praising the real estate market for uniquely giving buyers “fair access to all properties.” He also noted that, as an Australian, he has first-hand experience selling homes in a market where the principles of Clear Cooperation do not apply.

“It is anathema to common sense that more and more sellers want the ‘choice’ of fewer free eyeballs. More likely, under the influence of those who should know better, and those who have a fiduciary obligation to serve their client’s interests, some sellers are seduced into believing that ‘less is more'. It is utter nonsense, and never-more-so in an emerging buyers’ market.”

Realtor.com CEO Damian Eales wrote.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

Thinking about buying a home using a living trust? It’s absolutely possible to get a mortgage—but only if your trust is structured the right way.

In this short video, I walk you through the key legal and lender-friendly details: who needs to be listed as trustee, how revocability plays a role, and why specific borrowing powers must be included.

If your trust is missing even one of these elements, you could hit a major roadblock.

3. Catch up quick

🏡 2025 housing market forecasts. (BAM)

🏞️ Texas' 5 largest landowners. (LandReport)

⚖️ Opendoor will pay $39M to settle pricing algorithm lawsuit. (HousingWire)

🏠 You can still live in a mansion for under $1 Million in San Antonio. (Redfin)

💰 Architectural home styles that command the most dollars. (Realtor.com)

📜 Fun read: Mysterious 400-yr-old Bible returns to Boerne after restoration. (MySA)

4. How long did Mom and Dad save for their down payment?

Between 1970 and 1985, a typical American family saving 10% of their income could afford a 20% down payment on a median-priced single-family home in about 5 years. By 2023, that timeline has increased to nearly 8 years.

Median home prices have risen faster than median earnings, so saving for a down payment takes much longer than it used to.

5. Consumer sentiment rises for 1st time this year

A new survey released Friday by the University of Michigan shows consumer sentiment surged 16% in June, marking the first increase since December.

June Consumer Sentiment Index jumped to 60.5 from a final reading of 52.2 in May, beating the 54 index estimate polled by Reuters.

Consumers’ 12-month inflation expectations fell to 5.1% from 6.6% in May. Long-run inflation expectations dipped to 4.1% from 4.2% last month.

📊 Related News: Federal Reserve officials are signaling an extended hold on interest rates.

A MESSAGE FROM FINANCE BUZZ

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