US Homebuyer Age Hits All-Time High as First-Time Buyer Share Reaches 43-Year Low

Nov 4, 2024, 02:23 PM

The age of a typical US homebuyer has reached an all-time high of 56 years in 2024, according to the National Association of Realtors (NAR). This increase is attributed to younger people being locked out of the housing market. The share of first-time homebuyers has also decreased to a historic low of 24%, down from 32% last year, hitting a 43-year low. The median age for first-time buyers is now 38 years, while repeat buyers have a median age of 61 years. This shift signifies a significant change in the US housing market dynamics, with current homeowners often buying with cash.