The 2024 Profile of Home Buyers and Sellers, published by the National Association of Realtors (NAR), provides a detailed look at the trends shaping the real estate market. One of the most striking takeaways is the continued rise in the age of first-time home buyers. In 2024, the median age of first-time buyers is 38 years—a dramatic jump from 29 yearsin 1981. This increase reflects the growing challenges young buyers face, including rising home prices, student loan debt, and tighter lending standards. The chart below vividly illustrates this trend over the past four decades.
In contrast, repeat buyers now have a median age of 61 years, as seasoned homeowners return to the market later in life. For all buyers, the median age has reached 56 years, a significant shift from the past. These changes highlight the growing complexity of homeownership in today’s market, where affordability and economic pressures are driving buyers to delay their purchases.
As buyers grow older, their household composition has also changed. This year, 73% of buyers reported having no children under 18 at home, compared to 59% in 1981. This shift suggests evolving priorities among today’s buyers, many of whom are opting for homes that meet their lifestyle needs rather than focusing solely on family size.
At MORE, REALTORS®, we understand these changing dynamics and specialize in helping buyers and sellers navigate the real estate market, whether you’re a first-time buyer, a seasoned homeowner, or simply exploring your options. Contact us today to learn how we can help you make informed, confident real estate decisions. For even more insights, explore the full NAR report by clicking HERE and check out the charts below to better understand today’s home buyer.