Housing Market
First-Time Buyers Are Older, Fewer, and Struggling to Compete
Homeownership is slipping for younger Americans, with the average first-time buyer now 38 years old, according to the Guardian.
July 15, 2025
Homeownership is slipping for younger Americans, with the average first-time buyer now 38 years old, according to the Guardian.
A new Redfin report finds homebuyers must now earn $116,633 to afford a median-priced home—81.8% more than the $64,160 renters need to cover their monthly payment.
From a recent Realtor.com® survey, 75% of Americans view homeownership as part of the American dream, with 59% believing it’s achievable. Millennials (69%) and Gen Z (70%) still hold homeownership as a life goal despite affordability challenges.
A new Realtor.com report shows homebuyers are still holding onto the dream of homeownership despite affordability challenges. Younger generations (millennials and Gen Zers) are more optimistic about buying a home in the next year or five years.
A new report from RentCafe shows one in five millennials (20%) and two-thirds of Gen Zers (68%) live with family members in multigenerational homes, taking longer to leave than previous generations at their age. And many don’t expect to move anytime soon.
In a Fox Business interview, Redfin CEO Glenn Kelman reacted to the latest news on the U.S. housing market, warning that mortgage rates are unlikely to ease in 2023. And a CNBC article shows a decline in consumer sentiment despite an improvement in job numbers.
According to a recent report by Home Bay, 72% of renters believe that homeownership will never happen for them. The survey shows growing pessimism toward the housing market.
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