As if we needed more discouraging news about the housing market, here’s this: The median age of the first-time home buyer rose to an all-time high of 38 years old in 2024, according to the National Association of Realtors.
Not only that but the percentage of first-time buyers among all home buyers also fell to an historic low of 24%, the NAR data show. Both changes reflect just how expensive single-family homes have become and the older, later-in-life earning power now required to buy one.
In contrast, the median age of the first-time buyer in the 1980s was in their 20s…