Young homebuyers have been priced out of the market even more than previously, according to a report released Nov. 4 by the National Association of Realtors.

“As a result of decreased housing affordability and limited housing inventory, potential first-time buyers retreated further from the housing market,” the report stated, comparing homebuyers between July 2024 and June 2025 to previous years.

The share of first-time homebuyers dropped to a new low of 21% of all buyers, and the median age of those first-time buyers increased to 40, up from as low as the late 20s in the 1980s.

Older repeat buyers with cash offers and large down payments now dominate the market, according to the report. Repeat buyers had a median age of 62, the oldest in the report’s 44-year history.

Among the states

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