The typical first-time home buyer in America is now 40 years old, matching the oldest age on record, according to the National Association of Realtors’ 2026 Profile of Home Buyers and Sellers, released Nov. 5. First-time buyers made up 22% of purchases, a small rise from last year’s record low of 21%, but still roughly half the share seen before 2008.
The annual report surveys people who bought a home to live in, not investors or vacation-home buyers, and covers purchases made from July 2025 through June 2026. NAR says it mailed, texted and emailed a 121-question survey to more than 228,000 recent buyers in July 2026 and received 7,125 responses.
Key numbers from the 2026 profile
- First-time buyers: 22% of purchases, up from 21%. Their median age stayed at 40.
- Repeat buyers: 78% of purchases, with a median age of 62, tying the record.
- All buyers: median age 58, down slightly from last year’s record of 59.
- Down payments: a median of 9% for first-time buyers and 19% for repeat buyers.
- Cash purchases: 10% of first-time buyers paid all cash, the highest share recorded, compared with 30% of repeat buyers.
- Time in the home: sellers had typically lived in their homes 12 years before selling, the longest NAR has recorded.
Older first-time buyers, and more help from family money
One of the report’s more striking findings is who is paying cash. NAR says first-time buyers who paid all cash had a median age of 54, compared with 38 for first-time buyers who used a mortgage. Among those all-cash first-time buyers, 28% used an inheritance, versus 9% of financed buyers.
For first-time buyers overall, personal savings remained the most common source of a down payment (62%). Thirty percent tapped financial assets such as a 401(k), stocks or cryptocurrency, 25% received gifts or loans from family or friends, and a record 10% used an inheritance.
Jessica Lautz, NAR’s deputy chief economist and vice president of research, said in the release that affordability is the main obstacle. Describing the growing role of inherited money, she said:
“It’s not yet a tsunami, but it is changing who can buy a first home.” — Jessica Lautz, National Association of Realtors
HousingWire’s review of the report noted other signs of the squeeze: 21% of first-time buyers lived with family before buying, up from 12% in 1993, and 5% of first-time buyers purchased with a non-romantic roommate. In an Inman column, Lautz also pointed to Census data showing the homeownership rate for adults under 35 has fallen four years in a row to 37%.
Who is buying, and why
Married couples made up 63% of buyers, followed by single women at 20%, single men at 8% and unmarried couples at 6%, according to HousingWire. About 26% of buyers had children under 18 at home, up from 24%, and 14% bought a multigenerational home, often to care for aging parents or to save money.
Moving closer to friends and family was the top reason sellers gave for selling (22%), and 14% of buyers said being near loved ones drove their purchase, up from 6% in 2000. Job-related moves, by contrast, have dropped sharply over the same period. Sellers typically moved about 30 miles.
Agent use also hit a high. NAR reports that 90% of buyers and 92% of sellers worked with an agent or broker, while for-sale-by-owner deals held at 5% of sales, matching the all-time low. NAR represents real estate agents, so its findings on agent use reflect its own industry.
Mortgage rates ease for a third week
The report arrived the same day as Freddie Mac’s weekly Primary Mortgage Market Survey. For the week ending Nov. 5, 2026, the average 30-year fixed rate fell to 7.18% from 7.24% the week before, its third straight weekly decline. The 15-year fixed averaged 6.57%, down from 6.60%. Both are still well above a year ago, when the 30-year averaged 6.22% and the 15-year averaged 5.50%.
Freddie Mac chief economist Sam Khater said the continued decline was “improving the environment for prospective homebuyers.” For context, HousingWire noted that the average mortgage rate during the period covered by NAR’s survey was 6.33%, meaning today’s rates are notably higher than what most of the surveyed buyers faced.
Other recent data show a mixed market. Upstormed News reported that homes for sale rose 7.4% in October as both buyers and sellers pulled back, and that mortgage applications dipped 1.2% in the latest weekly survey.
Why it matters for families
For young adults and parents hoping to help their children buy, the report shows how long the path to a first home has become. A median first-time buyer age of 40 means many households are renting or living with relatives well into their 30s. Rents have also started edging up after a long stretch of flat prices. The data are general market information; anyone weighing a purchase may want to talk with a qualified housing counselor, lender or financial professional about their own situation.
What to watch next
Freddie Mac will release its next weekly rate survey on Thursday, Nov. 12. NAR’s existing-home sales report for October is also due later this month. Upstormed News will keep following the housing market as new figures come out.
Read more: Florida voters pass Amendment 3 property tax cut: What homeowners should know
What do you think is the biggest hurdle for first-time buyers today? Tell us in the comments.
More real estate from Upstormed
Sources: National Association of Realtors, “First-Time Home Buyer Share Inches Up to 22%, Median Age Remains at Record High of 40” (November 5, 2026); Freddie Mac via GlobeNewswire, “Mortgage Rates Decline for Third Consecutive Week to 7.18%” (November 5, 2026); HousingWire, “Buyers are aging and sellers are holding longer, what NAR 2026 found” (November 5, 2026); Inman, “The data agree: First-time buyers are facing historic challenges” (November 5, 2026)
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