Homebuyers In 2024 Are Older & Wealthier Than Ever Before

According to the National Association of Realtors®, first-time home buyers have reached a historic low of 24% (falling from 32% last year). 

The average age of buyers has climbed to a record high of 56 years overall—with 38 years for first-time buyers and 61 for repeat buyers. 

The report shows buyer incomes have surged, including those of first-time buyers, but the latter face heightened challenges in a competitive housing market. 

A record 26% of home buyers are paying cash for their purchases.