News

First-Time Homebuyers Hit Record Low

Jamie Jackson
November 6, 2025

This June 13, 2019, photo shows a house with a "sold pending" sign fixed on the realtor's sign in northeast Jackson, Miss. Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase price to buy, according to NerdWallet’s 2020 Home Buyer Report. (AP Photo/Rogelio V. Solis, File)

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(AURN News) — The real estate market continues to struggle, and new data from the National Association of Realtors, or NAR, show that the share of first-time buyers has dropped. It’s the lowest level on record — 21%.

The average age of a first-time buyer has risen to 40. The data appear in the association’s 2025 Profile of Home Buyers and Sellers.

“The share of first-time buyers in the market has fallen by 50% since 2007, right before the Great Recession. The implications for the housing market are significant. Today’s first-time buyers are building less housing wealth and will likely make fewer moves over their lifetimes as a result,” said Jessica Lautz, NAR deputy chief economist, in a statement.

First-time homebuyers put down an average 10% down payment, most often using personal savings as the primary source.

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Jamie Jackson is an Emmy-nominated television and radio broadcaster who has served American Urban Radio Networks since 2015. He previously covered the Obama and Trump administrations as a White House Correspondent and Pool Reporter for AURN News. Jamie hosted a national PBS television special in 2023 and over the years has worked as a TV news anchor and local NPR host for stations across the country. His work has been honored by numerous organizations, including the NAACP and the Virginia Farm Bureau.