The age for a typical first-time homebuyer hit 40 for the first time in long-term tracking by the National Association of Realtors.

And the share of first-time buyers dropped to a record low of 21%.

The age progression of first-time homebuyers:

The median age of first-time buyers was in the upper 20s in the 1980s.

It was 28 years old as recently as 1991.

Fifteen years ago, the typical first-time buyer was 30.

Five years ago, people bought their first home at age 33.

Last year, it had risen to 38.

And now, it sits at 40.

At the same time, the typical age of repeat buyers reached a record high of 62.

Jessica Lautz, NAR’s deputy chief economist and vice president of research, said the challenges for young buyers are likely to have economic effects for generations to come.

“It means

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