The article highlights the growing dominance of older Americans in the U.S. housing market, with data showing that the median age for homebuyers has reached its highest at 56 years. Aging populations are utilizing their substantial home equity to buy new homes, while younger, first-time buyers face significant barriers due to affordability issues. Younger buyers often do not own properties to sell for down payments, resulting in a challenging market landscape where older generations account for a notable 42% of homebuyers in 2024.
Today's homeowners have near-record-high home equity, which many are utilizing to purchase a new home. However, first-time buyers generally do not have access to this source of cash.
The median homebuyer age climbed to 56 years old in 2024, the highest in the data's history going back to 1981.
Persistent affordability struggles disproportionately hit younger and first-time buyers, reflecting the ongoing challenges they face in entering the real estate market.
The latest Housing Market Ranking echoes the findings from the National Association of Realtors 2025 Home Buyers and Sellers Generational Trends report.
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