America's First-time Homebuyers Are Older Than Ever

Thanks to the combination of still elevated mortgage rates and house prices, which, at a national level, have been remarkably resilient in the face of higher borrowing costs, America’s post-Covid housing market is looking a little strange. In 2010, first-time home buyers were behind half of all purchases. Last year, they accounted for just 24%.

With millions of younger people frozen out, America’s older, wealthier cohorts have invested in real estate, sending the average age of buyers up significantly.

In 2024, the median age of first-time US homebuyers hit a record 38 years — the highest since data collection began in 1981 — per the National Association of Realtors. Overall, the average age of an American homebuyer also reached an all-time high of 56 years last year, a 44% increase from two decades ago, while for repeat buyers, the trend was even more stark.