The most recent National Association of Realtors annual survey confirms a trend that has been in place throughout the last decade: the median age of US homebuyers is increasing. The median age of all US home buyers increased in 2024 to a peak of 56 years old, up from 49 last year, and 45 years old just three years ago. The same goes for first-time buyers, where the median age of 38 years old in 2024 far exceeds the age of 33 years old in 2021. As rising house prices and high mortgage rates weigh on the younger generation’s ability to purchase a first house, the share of first-time buyers has decreased to an all-time low of 24% of the whole market, down from 32% last year. But with 25% of buyers intending to never move, new buyers seem to be out of luck: the trend is unlikely to revert soon.
Source: National Association of Realtors, 2024.