Average Age of U.S. Homebuyers Reaches 56 as Young Buyers Face Record Affordability Crisis
The average age of homebuyers in the US has increased from 49 in 2023 to 56 in 2024, indicating that younger Americans are being priced out of the market due to high ownership costs. The National Association of Realtors’ report also reveals the median age of first-time buyers has gone up to 38, and their share among all buyers dropped to 24%, the lowest since tracking began in 1981. This trend is primarily attributed to rising homeownership costs, with median U.S. home price increasing by 39% to $435,000 since 2020 and the average 30-year fixed mortgage rate more than doubling to over 6% in the same period.
John Q. Hosedrinker