Where Down Payment Size Matters the Most and Least

All real estate is local, and there's no better gauge of what's going on -- at least to most homeowners -- than to look around your own neighborhood.

I know in my own subdivision in Columbia, South Carolina, my three-bedroom (four if you count the finished room over garage, or FROG in real estate lingo), 3.5-bath place we bought for about $175,000 just five years ago now has a Zestimate of about $250,000. And we're not in a super-heated market. OK, but not red hot like so many other places.

But how about that big neighborhood we all live in? Just how hot was the market this year nationwide? The National Association of Realtors says the median sales prices of single-family existing homes rose 22.9% year-over-year in 2Q21 to $357,900, with double-digit price gains recorded in 94% of all U.S. markets.

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Source Fool.com