The median down payment this year represented 10 percent of all buyers, and fell from 6 percent to 5 percent for first-time buyers, according to Down Payment Resources’ latest report.

In addition, 59 percent of buyers down payments came from their savings. Thirty-eight percent of buyers cited using the proceeds from the sale of a primary residence, which was the next most commonly reported way of securing a down payment. And 43 percent of buyers saved for their down payment for six months or less.

According to the November 2017 Down Payment Report, many potential young buyers are postponing the purchase of their first home unnecessarily due to the myth that a down payment of at least 20 percent is required.