In June, the median down payment soared to a record $67,500, a 14.8% increase from $58,788 the previous year, according to a Redfin analysis
With a recent boost to inventory and steady demand for high-end properties, luxury homeowners are cashing out existing homes and using cash power to buy a new one, fueling price growth
Strategic migration, low inventory and a demand for larger spaces have also contributed to rising luxury prices, agents told Inman, depending on the specific market
Records set for median price, inventory and time on market
More than 80 percent of low-end home sales in Tampa, Detroit and Miami were cash deals