Americans are waiting much longer now to purchase their first home.
In its Nov. 4 report, the National Association of Realtors (NAR) revealed that the average age of first-time buyers has hit an all-time high of 40, while the share of those buyers as a percentage of total buyers experienced a record decline to just 21 percent.
In contrast, the share of first-time buyers was nearly 50 percent in 2010.
The annual survey of recent home buyers and sellers recorded transactions between July 2024 and June 2025.
“The historically low share of first-time buyers underscores the real-world consequences of a housing market starved for affordable inventory,” Jessica Lautz, NAR deputy chief economist and vice president of research, said in the report….