First-Time Homebuyers Reach Lowest Share in U.S. History
First-time homebuyers accounted for just 21% of the U.S. market in 2025, the lowest share since 1981, according to the National Association of Realtors. The decline is attributed to affordability challenges, tight inventory, and rising home prices. Baby boomers now dominate the market as both buyers and sellers.
Topics: affordability demographics first-time homebuyers housing market NAR report