Lack of affordable housing and rising prices pushed the median age of first-time homebuyers up to the oldest age since 1981. Young potential homebuyers are waiting for better financial security to make the leap into homeownership.
Faced with higher property prices and piles of student debt, Americans are getting older and older before they buy a home.
The median age of first-time homebuyers has increased to 33, the oldest in records dating back to 1981, according to a National Association of Realtors report released Friday. The median age of all buyers also hit a fresh record, 47, increasing for a third straight year — and well above the median age of 31 in 1981.