Summary
The median age of first-time homebuyers in the U.S. decreased from 36 to 35 last year, according to a report by Redfin. This change happened because more homes were available, which helped lower prices and mortgage rates.
Key Facts
- The median age of first-time homebuyers went from 36 to 35 last year.
- Home prices in the U.S. increased by 4.2% from January 2024 to January 2025.
- The average 30-year fixed mortgage rate decreased to 6.6% in 2025 from 6.72% in 2024.
- The number of homes for sale rose from 1.4 million to 1.6 million between January 2024 and January 2025.
- Young people (Gen Z) owning homes went up to 27.1% from 26.1%.
- Millennials' homeownership rate increased to 55.4% from 54.9%.
- Improvements in affordability are due to more homes on the market and slightly lower mortgage costs.
