The median age of first-time homebuyers in the U.S. has risen to 40, marking the oldest median age recorded in more than 40 years, according to the National Association of Realtors (NAR).

This age is a sharp increase from 33 in 2021 and significantly higher than 29, the median age recorded in 1981.

The big picture: First-time buyers now represent only 21% of the housing market, down from the roughly 40% share that was typical before the 2008 financial crisis. • Jessica Lautz, NAR deputy chief economist and vice president of research, described the situation as “a tale of two cities,” where buyers with significant equity make large down payments and cash offers while first-timers struggle to enter the market. • Lautz emphasized the broader impact: “The implications for the housing mar

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