The median age of first-time home buyers in 2015 was 31, making it seem like a young person’s market. However, a notable amount of people, including those featured in a piece by the New York Times, are over 50.
“There are people who wait their whole lives to buy,” Kathy Braddock, a managing director of William Raveis New York City, said in the Times’ article. “They sit on the sidelines and say ‘not now, not now, not now. But, as Phase 3 of life comes, people see things differently and they’re more comfortable about pulling the trigger. They get to a point where they think, ‘I want to own property before I die — and not just a cemetery plot.”