Industry bodyAll sizesUSA
40
years old was the median age of US first-time home buyers in the 2025 NAR Profile, a record high
Sample: NAR 2025 Profile, 6,103 primary-residence buyers.
Industry bodyUpdated 23 Oct 2026
21%of US home buyers were first-time buyers (July 2024 to June 2025), the lowest share since NAR began tracking in 1981
21% of US home buyers were buying for the first time in the year to June 2025, the lowest share since NAR began tracking in 1981. The typical first-time buyer was 40 years old, also a record.
-3.0 points since the previous figure: 24% (4 Nov 2024)
Margin of error: +/- 1.25 points (95% confidence)
Industry bodyChecked at source, 23 Oct 2026All sizesUSAReal estate · Buyers
Share of each generation's home purchases that were first homes
| Group | First-time buyers |
|---|---|
| Younger Millennials | 60% |
| Older Millennials | 33% |
| Gen X | 21% |
| Younger Boomers | 8% |
| Older Boomers | 4% |
| Silent | 3% |
| All buyers | 21% |
In plain words
What this number really says
Only about one in five US home buyers is buying for the first time. They are older than ever, and more buyers come with cash from a home they already own.
21%
of buyers were first-time buyers, a record low
40
median age of first-time buyers, a record high
88%
of all buyers bought through an agent
Why you can trust it. Industry body survey (NAR), 6,103 recent buyers, +/- 1.25 points. Owner-occupants only.
Key terms
- First-time buyer A buyer who has never owned a home before this purchase.
- Repeat buyer A buyer who owned a home before. 79% of buyers in the 2025 Profile.
- Profile of Home Buyers and Sellers NAR's annual mail survey of recent primary-residence buyers, run since 1981.
Source: National Association of REALTORS, Profile of Home Buyers and Sellers; Generational Trends; Existing-Home Sales, Jul 2024-Jun 2025
Before and now
How we got here
Before 2008
40%NAR: first-time buyers made up 40% of the market.
Jul 2023-Jun 2024
24%2024 Profile, then a record low.
Jul 2024-Jun 2025
21%2025 Profile, new record low.
Nov 2026
NextThe 2026 Profile is due in early November.
Compare
How 21% compares
This number
21%
USA Jul 2024-Jun 2025
Latest2025 Profile
21%
Jul 2024 to Jun 2025
-3 pts2024 Profile
24%
Jul 2023 to Jun 2024
Median age, first-time
40
2024 Profile: 38
+2 yearsWho it affects
Who feels this number
The same 21% means something different for each group.
Younger Millennials
60%Most first-timeShare of their purchases that were first homes, down from 71%.
Older Millennials
33%Moving upDown from 36%; many now buy with equity.
Where it shows
Where this number has an impact
For agents and lenders
First-time buyers are a smaller slice (21%) and older (median age 40). Marketing that assumes a 20-something first-time buyer misses most of today's market.
For the online search
NAR says 52% of buyers found the home they bought online, but 88% still bought through an agent. A good listing page and an agent website work together.
The future
What this number says about what comes next
Forecasts below are made by others and linked to where they were published. Our own reading of the data is marked as ours.
Our reading, not a forecast
What the data suggests
- Rates hold the share down. Our reading: the 30-year mortgage rate was 7.32% in the week of 22 Oct 2026, above the 6.69% average NAR reported for its survey period, so a quick rebound in first-time buying looks unlikely.
Forecasts from other sources
What to watch next
- NAR 2026 Profile of Home Buyers and Sellers (early November).
- Freddie Mac PMMS every Thursday.
The data
All the numbers in one table
As published by National Association of REALTORS, Profile of Home Buyers and Sellers; Generational Trends; Existing-Home Sales, Jul 2024-Jun 2025. Standard errors are shown where the source gives them.
| Buyer group | First-time share |
|---|---|
| All buyers | 21% |
| Younger Millennials (27 to 35) | 60% |
| Older Millennials (36 to 45) | 33% |
| Gen X (46 to 60) | 21% |
| Younger Boomers (61 to 70) | 8% |
| Older Boomers (71 to 79) | 4% |
| Silent Generation | 3% |
Why some reports say 31% and others 21%
21% comes from NAR's annual Profile: a survey of buyers of primary residences over a full year.
31% (September 2026) comes from NAR's monthly REALTORS Confidence Index, a survey of agents about the deals they closed that month. Different respondents, different period.
Vendor surveys such as Zillow's use their own samples and often report much higher first-time shares. We could not read Zillow's page, so we leave it out.
Method and use
How it was measured, and how to use it
How it was measured
- Publisher
- National Association of REALTORS, Profile of Home Buyers and Sellers; Generational Trends; Existing-Home Sales
- Source type
- Industry body: Trade association report
- What it measures
- 21% of US home buyers were first-time buyers (July 2024 to June 2025), the lowest share since NAR began tracking in 1981
- Data period
- Jul 2024-Jun 2025 (ends 30 Jun 2025)
- Published by the source
- 4 Nov 2025
- Who is counted
- NAR mailed a 120-question survey to 173,250 recent buyers of a primary residence in July 2025; 6,103 responses, adjusted response rate 3.5%; +/- 1.25% at 95% confidence. Excludes investors and vacation homes.
- Margin of error
- +/- 1.25 points (95% confidence)
- In the source's words
The share of first-time home buyers dropped to a record low of 21%, while the typical age of first-time buyers climbed to an all-time high of 40 years
- Checked at source
- 23 Oct 2026: Read on the NAR press release of 4 Nov 2025 (2025 Profile of Home Buyers and Sellers) and confirmed in the 15 Apr 2026 Generational Trends release ("lowest share since NAR began collecting the data in 1981"). data.js dated it Apr 2026; the figure first appeared on 4 Nov 2025.
- Reuse
- Copyrighted; quote with attribution. Quote figures from free releases with credit to NAR; the full Profile is paid for non-members.
- Next expected update
- Profile yearly (National Association of REALTORS, profile yearly (November); Existing-Home Sales monthly)
- Original page
- www.nar.realtor: Profile of Home Buyers and Sellers; Generational Trends; Existing-Home Sales
- Data files
- CSV · JSON (stable links)
Full change log
- 4 Nov 2025New data21% 2025 Profile (July 2024 to June 2025).
- 4 Nov 2024New data24% 2024 Profile (July 2023 to June 2024).
Cite this number
APA
National Association of REALTORS. (2025). 21% of US home buyers were first-time buyers (July 2024 to June 2025), the lowest share since NAR began tracking in 1981. Via digitaltreed, https://digitaltreed.com/statistics/real-estate/first-time-buyer-share
MLA
"21% of US home buyers were first-time buyers (July 2024 to June 2025), the lowest share since NAR began tracking in 1981." National Association of REALTORS, Profile of Home Buyers and Sellers; Generational Trends; Existing-Home Sales, Jul 2024-Jun 2025. digitaltreed, https://digitaltreed.com/statistics/real-estate/first-time-buyer-share.
HTML link
<a href="https://digitaltreed.com/statistics/real-estate/first-time-buyer-share">21% of US home buyers were first-time buyers (July 2024 to June 2025), the lowest share since NAR began tracking in 1981</a> (National Association of REALTORS, Jul 2024-Jun 2025)
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FAQ
Questions about this number
What percentage of home buyers are first-time buyers?
21% in NAR's 2025 Profile of Home Buyers and Sellers (July 2024 to June 2025), the lowest since 1981.
What is the average age of a first-time home buyer?
The median age was 40 in the 2025 NAR Profile, a record. It was 38 a year earlier.
Why are there fewer first-time buyers?
NAR points to limited affordable inventory and high costs. Mortgage rates averaged 6.69% during its survey period.
How many home buyers use a real estate agent?
88% of buyers bought through an agent or broker in the 2025 NAR Profile.
Is the first-time buyer share 21% or 31%?
Both are NAR numbers. 21% is the annual buyer survey; 31% (Sept 2026) is a monthly agent survey of closed sales.
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