First-Time Home Buyers Age Hits 40 as Market Becomes Less Accessible
TL;DR Summary
High home prices, rising mortgage rates, and a shortage of available homes are making it difficult for first-time buyers, whose average age has reached 40, to enter the housing market, leading to a record low in home sales to first-time buyers and increased financial challenges for young adults.
Topics:business#first-time-buyers#home-prices#housing-market#housing-shortage#mortgage-rates#real-estate
- Many would-be buyers are frozen out of the housing market NPR
- Ten years ago, millennials bought first homes at 31. Now, Gen Z may wait until 40 as the housing market grows increasingly out of reach Fortune
- First-Time Home Buyer Share Falls to Historic Low of 21%, Median Age Rises to 40 National Association of REALTORS®
- First-Time Home Buyers Are Older Than Ever The New York Times
- Nothing to Celebrate: The Median Age of First-Time Home Buyers Hits 40. Barron's
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