First-Time US Home Buyers Are Oldest on Record and Least Diverse Since 1997
- Typical first-time buyer was 36 in 2022, NAR data show
- Black buyers’ proportion dips to 3%, lowest since at least ‘97
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Both first-time and repeat US homebuyers are now the oldest on record, and the proportion of purchases by Black, Asian and Pacific Island Americans is the lowest since 1997, the latest evidence that it’s increasingly difficult to buy a home.
A typical first-time buyer was 36 this year, three years older than in 2021, data from the National Association of Realtors released Thursday showed. For repeat purchasers, it rose to 59, the NAR said.