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Median Age of First-Time Homebuyers Hits Record High Amid Housing Crisis

6 hours ago

Median Age of First-Time Homebuyers Hits Record High Amid Housing Crisis
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7 Highlights

  • First-time homebuyers' median age rose to 38 due to economic challenges and high home prices.
  • First-time buyer share hits lowest since 1981, per National Association of Realtors.
    • Housing shortage estimated at 4 million homes, pushing prices even higher.
    • Just 24% of 2024 home purchases were by first-time buyers, highlighting financial barriers.
    • Jessica Lautz emphasizes need for strong finances amid rising costs.
    • High rents and stagnant wages delay home buying, keeping renting periods long.
    • Experts warn young people may find it hard to afford homes in the future.
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