For the year spanning July 2024 to June 2025, the median age of a first-time homebuyer has risen to 40 years old, according to the latest report from the National Association of REALTORS (NAR). Spokesman-Review+1
This shift reflects deep-seated changes in the housing market. Expectations that people would buy their first home in their late 20s have given way to a reality where younger adults delay homeownership. As NAR puts it, today’s first-time buyers are saving more, earning more, and entering the market later. Mortgage Professional+1
Several key factors are driving this change:
- Affordability squeeze: Home prices have surged and mortgage rates have climbed, making it tougher for younger buyers to qualify or save enough for down payments. Spokesman-Review+1
- Low inventory of starter homes: With fewer affordable homes on the market, many would-be first-timers wait longer or are crowded out by more affluent buyers. Mortgage Professional+1
- Delayed life milestones: Economic pressures such as student debt, high rents, and postponed careers or family decisions mean many aren’t ready to buy until later.
What this means: Buying your first home at 40 isn’t atypical any more — for many Americans it’s the new norm. Delayed homeownership can affect wealth accumulation, mobility, and the timeline for building equity.