Why Buying Your First Home Now Happens in Your 40s
Buying your first home has always been a major milestone, but in today’s market, that milestone is arriving much later than it used to. According to a recent study from the National Association of Realtors, the median age of a first-time homebuyer has climbed to 40 years old. Just five years ago, that number was 33.
So what’s behind this dramatic seven-year jump?
1. Affordability Has Taken a Hit
Over the past five to seven years, affordability has been crushed from all sides. Even though some markets have seen slight price corrections in the last 18 months, home prices aren’t dropping anywhere close to the rate they rose.
Home prices are up.
Interest rates are up.
Cost of living is up.
This combination has pushed homeownership further out of reach for many people and delayed the timeline for when they feel confident enough to buy.
2. Saving for a Down Payment Takes Longer
As the cost of living rises, it’s become harder for buyers to consistently save each month. Even minimum down payments—3.5%, 5%, plus closing costs—require a level of financial discipline that’s significantly harder to achieve today. What might have taken a couple of years now often takes much longer.
3. Major Life Milestones Are Happening Later
Traditionally, big life moments like getting married, having kids, or feeling settled in your career were the key motivators behind purchasing a first home. Today, these milestones are happening later in life—often in the mid-30s—and that shift naturally pushes home buying later as well.
4. Entry-Level Homes Are Harder to Find
In many major markets, the classic “starter home” is becoming a rarity. Builders used to supply more entry-level inventory, but the focus has shifted in several areas, making it harder for first-time buyers to find something affordable to step into.
Putting It All Together
When you combine affordability challenges, slower savings, delayed life milestones, and fewer starter homes, it becomes clear why the median age for first-time buyers has risen so sharply.
But here’s the good news: doom and gloom does not mean impossible.
And you do not have to play into the average.
You Can Still Buy Sooner Than You Think
Every buyer’s situation is different, and having a personalized plan can make all the difference. If you’re wondering what buying a home could look like for you—whether that’s 6 months, 12 months, or even two years from now—we’re here to help.
Reach out to us anytime. At Pinnacle Property Group, we love talking through options, creating a roadmap, and helping you understand what’s possible for your future. A plan doesn’t commit you to anything—it simply gives you the clarity and confidence to make the right decision when the time is right.
