The average age of homebuyers is rising significantly; in 2024, buyers are averaging 56 years old, leading to concerns about market accessibility and generational shifts.
First-time home buyer household incomes increased by $26,000 to a median of $97,000, emphasizing that financial barriers are becoming insurmountable for younger buyers.
The report highlights a growing racial disparity in homeownership, with 83% of buyers being white, indicating ongoing systemic challenges for nonwhite buyers.
The trend toward all-cash purchases has reached an all-time high at 26%, reflecting buyer responses to high-interest rates and market instability.
Collection
[
|
...
]