Reported 21 days ago
The typical homebuyer in the US has reached an unprecedented median age of 56, with a notable drop in first-time buyers to 24%, the lowest since 1981. The era of high prices and borrowing costs has led to older homeowners leveraging their equity, while first-time buyers face increased challenges, relying more on family support for down payments. Single women make up a significant portion of purchases, and the trend shows that many buyers are older, childless, or empty nesters. Homeowners are also staying put longer, with average tenure now around 10 years.
Source: YAHOO