Down payments for a home in San Diego are on the rise

SAN DIEGO (FOX 5/KUSI) -- Putting money down on a home is getting more expensive across the country. A recent report shows the typical U.S. homebuyer's down payment is increasing, and the upward trend is being seen in many major cities including San Diego.

According to data on Redfin, San Diego was one of the metropolitan cities with the biggest increases in down payment amounts. The median down payment in the area jumped nearly 50% year over year, following second behind Las Vegas which saw a 61% increase.

All-cash purchases rose nearly 3% in February from last year, nationwide data showed. According to Redfin, purchasing homes in cash has risen in popularity because wealthier Americans are more likely to buy in a more expensive market.

All-cash purchases were not very common locally, however, only making up 21.7% of all home sales. All-cash purchases were also the least common in San Jose (18%), Oakland (21.6%), Los Angeles (23%) and Providence, R.1. (23.3%).

However, a report from February found that San Diego was one of the cities with the largest share of homes bought by investors, between Sacramento at No. 1 and Riverside at No. 3.

The report also showed San Diego was among the cities with homebuyers making median down payments of about 20% of the purchase price. Data showed the median down payment on a home in San Diego was $152,000 in February -- 49.8% from the same month last year.

Nationwide, the median down payment on a home was just over $55,600, a 24% jump from last year. The median down payment in the U.S. was equal to about 15% of the purchase price of a home in February.

Homebuyers in San Diego's housing market continue to see price tags increasing, but realtors say mortgage rates are expected to fall by the end of the year.