By Alex Tanzi | Bloomberg
The age of a typical homebuyer jumped to an all-time high of 56 in the US, with many young people locked out of the housing market while older owners tap their accumulated home equity for cash purchases or to make large down payments, according to a report.
The share of first-time home buyers shrunk to 24%, the lowest in data going back to 1981, according to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers. The median age of a first-time buyer also reached a record of 38 ...