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Chart of the Day: First-Time Home Buyers Are Holding Off

Line graph showing ages of all home buyers (red), repeat buyers (green), and first-time buyers (yellow) from 1980 to present.

Contents

Today’s Chart of the Day is from Axios Visuals with data from the National Association of Realtors.The chart illustrates the median age of U.S. homebuyers—broken down by repeat buyers, all buyers, and first-time buyers—from 1981 to the present.
 
Notably during this time, the age of a first-time homebuyer has increased significantly, rising from 30 years to 40 years. For decades, the first-time home buyer's age remained relatively stable at 30-32 years. However, this trend shifted after COVID hit in 2020, when home prices spiked and the availability of affordable houses waned in 2021-2022. These factors were responsible for causing first-time home buyers to hold off on purchasing until reaching an all-time record high age of 40.