First-Time Buyers Hit Record Age of 40

The National Association of Realtors reports the typical first-time homebuyer is now 40 years old, an all-time high.

Updated on Nov. 6, 2026 in Residential

Gouache-painted editorial illustration of a brass key beside a pale house-shaped cutout on a cream surface, with generous negative space. — The National Association of Realtors reports the typical first-time homebuyer is now 40 years old, an all-time high, with 10% paying all cash. AI Illustration. Upload story photo >

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The typical first-time homebuyer remained at age 40, an all-time high, according to the National Association of Realtors. A record 10% of first-time buyers paid all cash, with inheritances helping fund many purchases.

Why it matters

The share of first-time buyers remains about half the historical norm of 40% seen before 2008, reflecting affordability pressure. Inheritances and generational wealth transfers are increasingly enabling new homeownership.

Among first-time all-cash buyers, 28% used an inheritance, compared with 9% of first-time buyers who financed. The median age of all homebuyers is 58 years old.

The players

National Association of Realtors

The National Association of Realtors is a national trade group representing real estate professionals and a widely cited source of housing market data.

The details

The survey covered transactions closed between July 2025 and June 2026, with repeat buyers accounting for 78% of all home purchases in that period. Median single-family sale prices in September reached $860,000 in Nassau County and $740,000 in Suffolk County on Long Island.

July 2025 to June 2026: survey period covering closed transactions.
September: median single-family prices reported for Nassau and Suffolk counties.
November 6, 2026: NAR 2026 Profile of Home Buyers and Sellers published.

Market Context

First-time buyers now make up roughly half the share seen before 2008, when they accounted for about 40% of purchases. The current figures show that gap has not closed even as buyer age reaches a record high.

Buyers relying on family money may face different options than those financing purchases alone. Long Island's high median prices underscore how affordability gaps shape who can enter the market.

The takeaway

Inheritances are increasingly bridging the gap for first-time buyers, but the record age and low first-time share suggest broader access to homeownership remains constrained.