Economics

Summary

The average age of U.S. homebuyers has reached a record high of 56, as younger Americans face rising homeownership costs. The median age for first-time buyers rose to 38, with only 24% of buyers being first-timers—the lowest share since 1981.

High home prices, averaging $435,000, and increased mortgage rates make saving for down payments nearly impossible for many younger buyers, who often lack wealth or home equity to compete with older, wealthier bidders.

With all-cash buyers now representing 26% of purchases, many young buyers rely on family gifts or loans.