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Market
Will first-time homebuyers remain below 25% from July 2024 to June 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
National Association of Realtors (NAR) annual report
Story
US Homebuyer Age Hits Record High, First-Time Buyers at Record Low of 24%
Nov 9, 2024, 08:13 PM
The age of homebuyers in the U.S. has reached an all-time high, with the typical homebuyer now 56 years old. High home prices, limited inventory, and elevated mortgage rates are contributing factors pushing many first-time buyers out of the market. As a result, only 24% of home purchases between July 2023 and June 2024 were made by first-time buyers, a record low. The median age of first-time homebuyers is now 38 years old, indicating that they are saving for longer periods before purchasing homes. The average age of move-up buyers is 61, and the drop in first-time homebuyers marks a historical low back to 1981.
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Similar markets
Yes • 50%
No • 50%
Below 20% • 25%
20% to 24% • 25%
25% to 29% • 25%
30% or above • 25%
Less than 20% • 25%
20% to 24% • 25%
25% to 29% • 25%
30% or more • 25%
Below 25% • 25%
25% to 27% • 25%
27% to 30% • 25%
Above 30% • 25%
High home prices • 25%
High interest rates • 25%
Economic uncertainty • 25%
Other factors • 25%