A new report from the National Association of Realtors (NAR) shows first-time homebuyers made up just 21% of the U.S. market last year — the lowest share since NAR began tracking — while the average age for first-time buyers rose to 40, up from 38. NAR executive vice president Shannon McGahn warned that delayed homeownership can reduce equity gains by roughly $150,000 on a typical starter home, undermining upward mobility and widening wealth gaps. To address the crisis, NAR is advocating federal, state, and local solutions, including zoning reform, tax incentives for first-time buyers, down payment assistance, and reforms to FHA, USDA and VA loan programs. The association also supports legislation like the ROAD to Housing Act, the More Homes on the Market Act, and the Uplifting First-Time Homebuyers Act, while promoting local strategies through the Housing Supply Accelerator Playbook to expand affordable housing and ensure a viable path to homeownership for young Americans.
Source: Realtor Magazine; 11/5/2025