Realtors Adjust Image to Reflect Aging Homebuyers
The National Association of Realtors (NAR) has changed the cover image for its annual survey from a young pregnant couple to an older couple approaching retirement. This shift acknowledges that the average age of homebuyers in the U.S. has now reached 59.
“The initial cover featured a really adorable young couple looking optimistic, but I felt that wasn’t going to resonate,” Jessica Lautz, NAR’s deputy chief economist, commented, noting that younger couples just aren’t as prevalent in today’s market.
The 2025 Home Buyer and Seller Profile now showcases an elderly couple, presumably in their 60s, which reflects new data on home buying trends.
According to the findings, the median age of all buyers is 59, and for first-time buyers, it’s 40—both representing highs not seen before. Additionally, only 21% of buyers are first-time purchasers, marking a historic low.
This situation starkly contrasts with the 1980s, when most first-time buyers were in their late 20s.
“The declining rate of first-time buyers highlights serious issues in a housing market that lacks affordable options,” Lautz said. She characterized the current market dynamics as a “tale of two cities.”
“On one hand, we have buyers with considerable home equity making larger down payments or cash offers, while first-time buyers still find it challenging to enter the market,” she added.
The report released on November 4 highlighted that only 21% of buyers were first-timers—a sharp drop from nearly 40% before the Great Recession.
Lautz pointed out that the shrinking proportion of new buyers indicates “real problems in the housing market that need addressing.” The market currently favors repeat buyers, who generally have more resources and sometimes pay in cash. Close to a third of these buyers did so, and the median down payment was pegged at 23%, the highest since the 1980s.
“Today’s housing market feels stagnant,” Lautz told NPR. Since 2005, the median age for first-time buyers has increased by 10 years. Furthermore, only 24% of recent buyers have children under 18, which is the lowest figure recorded by NAR.
Shannon McGahn, NAR’s chief advocacy officer, mentioned that delays in homeownership can have lasting economic effects. “Waiting to buy a home until age 40 instead of 30 can mean a typical starter home owner misses out on about $150,000 in equity,” she said.
The affordability crisis stems from soaring prices, low inventory, and mortgage rates that hovered around 7% for much of 2025. Many homeowners who locked in low interest rates during the pandemic are holding onto their properties for about 11 years on average—a new record.
Newlyweds Eve and Kael Burdick from Minneapolis shared their perspective, stating that the numbers resonate with their experiences. Both 30, they noted that prices are steep even in their market, which is below the national average.
“There’s no realistic way to buy a house for $350,000 and also take out a line of credit to fix up the basement,” Eve remarked.
In Richmond, Virginia, 35-year-old Sasha Skelton and her partner have also put their search on hold. “Everything feels so costly,” she expressed. “If our jobs become unstable, we will think twice because we could potentially lose our homes.”
Lautz indicated that such experiences are becoming common. “With the lack of homes available for young buyers, there’s certainly more work to be done,” she noted.
Nonetheless, NAR maintains that demand is still robust among buyers who can afford to engage with the market. Lautz highlighted that nearly 90% of buyers utilize an agent, marking a historic high that underscores how crucial real estate professionals are becoming in a complicated landscape.
