Zillow: 2018 Buyers Will Need to Save More – NMP
Industry News

Zillow: 2018 Buyers Will Need to Save More

Nov 09, 2017
The median home will be worth $6,275 more a year from now, according to new data released by Zillow

The median home will be worth $6,275 more a year from now, according to new data released by Zillow, which also forecasts that the average buyer will need to save an additional $105 a month, or $1,260 total over the next year, to account for the future costs of a 20 percent downpayment.
 
In the nation’s more expensive housing markets, the costs will be much higher. Zillow noted that home values in San Jose are expected to rise as much as $35,934 by this time next year, thus requiring the average buyer to have $7,188 more for a downpayment on the median home than they would today—which would be achieved by putting away an additional $599 a month just to keep up with home value appreciation, let alone whatever else is needed for the downpayment itself.
 
"Sky-high rents and rising home prices are putting first-time buyers in a bit of a catch-22," said Svenja Gudell, Zillow Chief Economist. "Buying now with a low downpayment can be riskier, and the offer may not be considered as competitive by the seller. However, a renter who saves for another year to reach a larger downpayment may find that the home they love today is outside their budget a year from now. For those considering buying in the next year, getting into the market today may make more financial sense than they think." 
 
About the author
Phil Hall
Link copied
Published
Nov 09, 2017
Get the NMP Daily
Sales and Marketing
NMP Deep Dive: The AI Workforce

AngelAi demonstrates how AI agents can handle routine mortgage work, increase originator capacity, and reduce operating costs

Artificial intelligence is moving beyond answering questions and generating content. Increasingly, it can complete the routine work that consumes an originator’s day.That shift could allow mortgage companies to increase production without adding support staff at the same rat...

Continue reading
Analysis and Data
Higher Rates Cool July Mortgage Locks While Non-QM Pushes Past 10%

Purchase locks fell 12% from June as the conforming share dropped to 47.3%, extending the mortgage market’s shift toward more specialized products

Higher mortgage rates erased June’s improvement in borrower demand during July, but the retreat in overall activity concealed a continued shift in where mortgage production is coming from.Total rate-lock volume fell 11.4% from June as Optimal Blue’s benchmark 30-year conform...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026