Overview
- The National Association of Realtors reports the median first-time buyer age reached 40 and first-timers accounted for about 21% of sales in the year through June, both record extremes.
- Down-payment burdens climbed to a median 19% in 2025, while roughly 26% of purchases were all-cash, underscoring the advantage of repeat buyers with equity.
- Owners are staying in their homes for about 11 years on average, constraining supply as mortgage rates hover above 6% and prices remain far higher than pre-pandemic levels.
- Coldwell Banker/Harris Poll findings show 71% of aspiring buyers—rising to 84% for Gen Z—are postponing milestones such as marriage, children, or career moves to save for a home.
- Policy remedies are under debate rather than enacted, with proposals in opinion pieces and industry commentary ranging from easing manufactured-housing rules and rezoning incentives to interest-rate relief and targeted tariff adjustments; affordability has also featured prominently in recent local races.