NAR recently published new research data showing that, for the first time ever, the median age of America’s first-time homebuyer is now a new record: 40 years old.

For decades, buying a first home was something many Americans achieved in their late 20s or early 30s. Today, the typical first-time homebuyer is 40 years old, according to the National Association of REALTORS®’ latest Profile of Home Buyers and Sellers. At the same time, first-time buyers now account for just 21% of all home purchases — the lowest share on record.

What’s driving the shift? Higher home prices, elevated mortgage rates, limited housing supply, and rising student debt are all making it harder for younger buyers to enter the market. The result is a growing delay in homeownership that can have long-term implications for wealth building and financial stability.

While the challenge is national, it underscores the importance of local efforts to expand housing supply, remove barriers to development, and support pathways to sustainable homeownership. REALTORS® continue to play a key role in advocating for policies that help more families achieve the dream of owning a home.

To highlight why that’s a problem and what NAR Advocacy is doing to fix it, NAR Executive Vice President and Chief Advocacy Officer Shannon McGahn shared an op-ed with The Hill.

In the op-ed, McGahn writes, “Our organization has been pressing policymakers for years to take this crisis seriously. We have advanced bipartisan policies that would expand access to ownership, promote more housing construction and unlock affordable supply: down-payment assistance for first-generation buyers, credit-scoring reform, assumable mortgages, modernized FHA and VA programs, and tax incentives for starter-home construction.”

Read the full release here.

Highlights from NAR’s Profile of Home Buyers and Sellers Annual Report