BMO Real Financial Progress Index Shows Shift Toward Delayed Homeownership and 'Forever Homes'
The BMO Real Financial Progress Index indicates that Americans are delaying homeownership, with an average first-time home purchase age of 40, and are opting for 'forever homes' rather than starter homes. Despite recent interest rate cuts, buyer activity remains low, with most prospective buyers waiting for further rate reductions before entering the market.
Topics: AI in real estate first-time buyers homeownership housing market interest rates