As of 2025, the path to owning a home in the US is taking longer than ever. New data reveal that the median age of first-time buyers has climbed to 40, a record high driven by soaring property prices, rising mortgage rates and scarce listings.
The rising cost barrier means many prospective buyers—once in their late 20s or early 30s—are delaying their purchase by several years. Young Americans say saving for a downpayment has become a major challenge amid stubborn inflation and tighter lending standards this year.
In Seattle, for example, co-buying arrangements with partners, friends or parents are on the rise. While pooling resources can make a downpayment possible, it also adds legal and financial complexities that buyers need to navigate carefully.
Key factors behind the age surge:
- Home prices up more than 10% year-on-year
- Mortgage rates climbing above 6% this summer
- Limited inventory fueling bidding wars and higher downpayments
Housing experts warn that without policy interventions—such as expanding affordable housing initiatives or easing credit requirements—first-time buyers could face even longer delays. Creative solutions and broader reforms may be critical to keep the American dream within reach.
Reference(s):
cgtn.com
