CAN'T COMPETE

Age of Average First-Time Homebuyer Hits Record High

At the same time, equity-rich repeat buyers are making more cash offers than ever before.

The average age for first-time homebuyers had hit an all-time record high of 40 years old, according to the National Association of Realtors. First-timers represented just 21 percent of buyers between July 2024 and June 2025, a new low going back to 1981. At the same time, equity-rich repeat buyers—who are 62 years old on average—are making more cash offers than ever before. A record 26 percent of buyers paid in cash, up from 20 percent the year before, according to the NAR. “The housing market remains divided between an all-time high of all-cash home buyers and an all-time low of first-time buyers,” its researchers wrote. The report found that high prices, a shortage of affordable houses, and mortgage rates of nearly 6 percent have put homeownership out of reach for many. Those who do manage to buy often rely on family money. A survey from BMO Bank found that 60 percent of Gen Z buyers and 57 percent of millennials said they couldn’t have purchased their homes without help from family.