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The average age of first-time homebuyers in the U.S. has reached an all-time high of 38, reflecting a decline in their market share from 32% to 24%. High rent prices, a significant housing shortage of 4 million homes, and increased competition against wealthier buyers are making homeownership increasingly difficult for younger adults. As a result, many renters remain cost burdened, spending over 30% of their income on housing, which hampers their ability to save for a home or pay down existing debt.
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first-time homebuyers reach record age amid housing market challenges
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18:13 05.11.2024
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