Buying a home has typically been and continues to be a priority for many Americans. However, many are waiting longer than others before them to purchase a home. According to the National Association of REALTORS® 2013 Profile of Home Buyers and Sellers, the average age of home buyers has been trending upward, increasing from 40 to 42 years over the last decade. A new analysis from NAR shows the median age of home buyers varies by the type of buyer (whether they are first-time or repeat buyers) and by state. In 2003, the average repeat homebuyer in the U.S. was 46 years old; in 2013 the average age was 52. The age of first-time home buyers was 32 in 2003 and 31 in 2013.
Check out NAR’s interactive maps showcasing the median ages of home buyers by state. Talk to REALTORS® in your area about home buyer trends in your area to see if they correspond with NAR’s statewide data. Find out what REALTORS® think these trends mean for the current real estate climate and for future buying and selling.