The U.S. housing market is one of extremes: Prices have never been higher, down payments are bigger than ever, and buyers are the oldest on record. Another striking statistic: A record high share of first-time homebuyers are using an inheritance to finance their down payment.
That's according to the National Association of Realtors' (NAR) latest report, which finds 7% of first-time buyers used an inheritance for their down payment last year. That's more than double the share of repeat buyers who are doing the same.
