Average Age of First-Time Homebuyers Hits Record High of 38

The U.S. housing market faces challenges as affordability issues push the median age of first-time buyers to an unprecedented level.

The share of first-time homebuyers has dropped to 24%, the lowest since records began in 1981.
Rising home prices and high mortgage rates are making it difficult for younger buyers to enter the market.
First-time buyers now have a median household income of $97,000, reflecting the need for higher earnings to afford homes.
Repeat buyers, benefiting from home equity, are increasingly paying cash, with 26% of buyers using cash for purchases.
The housing market's affordability crisis has led to a growing trend of multigenerational living and delayed homeownership among younger generations.