Coming up with the cash for a down payment can be tricky…especially in Southern California. John Burns Research and Consulting found that 8 percent of recent homebuyers nationally received down payment assistance—but that figure jumps when it comes to Southern California buyers.
According to the survey, 11 percent of local homebuyers got family help for their down payment. That’s second only to the Northeast, where 13 percent of buyers received help.
The survey also found that in pandemic-buying hotspots like Texas and Florida, only 4 percent and 3 percent of buyers, respectively, got down payment help from families.