{"id":83307,"date":"2025-11-20T16:56:09","date_gmt":"2025-11-20T16:56:09","guid":{"rendered":"https:\/\/cred.ai\/news\/?p=83307"},"modified":"2025-12-01T17:27:55","modified_gmt":"2025-12-01T17:27:55","slug":"prospective-young-buyers-feel-the-housing-market-squeeze","status":"publish","type":"post","link":"https:\/\/cred.ai\/news\/2025\/11\/20\/prospective-young-buyers-feel-the-housing-market-squeeze\/","title":{"rendered":"Prospective Young Buyers Feel the Housing Market Squeeze"},"content":{"rendered":"

If you’ve doom-scrolled through TikTok real estate content lately, the vibes are confirmed: buying your first home is harder than ever. According to the National Association of Realtors’ (NAR) 2024 Profile of Home Buyers and Sellers<\/span><\/a>, first-time buyers represent just 24 percent of all purchases. That’s a historic low down 32 percent from the previous year. What’s more, the average first-time buyer is 38 years old, a full 10 years older than their 1980s counterparts.<\/p>\n

\n

“First-time buyers face high home prices, high mortgage interest rates and limited inventory, making them a decade older with significantly higher incomes than previous generations of buyers,” said Jessica Lautz, NAR deputy chief economist.<\/p>\n<\/blockquote>\n

Meanwhile, the median home price hit $415,200 in October, marking the 28th consecutive month<\/span><\/a> of year-over-year increases and a record for any October. Homes are also sitting longer, with a median of 34 days on market compared to 29 days last year, giving buyers slightly more breathing room.<\/p>\n

Where you live is a significant factor in the equation as well.<\/p>\n

\n

“First-time homebuyers are facing headwinds in the Northeast due to a lack of supply and in the West because of high home prices,” said Lawrence Yun, chief economist for the Realtors. “First-time buyers fared better in the Midwest because of the plentiful supply of affordable houses and in the South because there is sufficient inventory.”<\/p>\n<\/blockquote>\n

Here’s what’s driving the divide: a record 26 percent of buyers paid cash<\/span><\/a> for their homes in 2024, while younger buyers struggle to compete with repeat buyers who leverage built-up equity for massive down payments. According to The Agency’s Red Paper<\/span><\/a>, luxury homes priced above $1 million saw sales climb 5.2 percent in the first half of 2024, even as overall home sales dropped nearly 13 percent.<\/p>\n

Lower mortgage rates could help. Rates dipped to two-year lows around 6 percent in September before rising again.<\/p>\n

\n

“Looking ahead, home shoppers in today’s market face some advantages from falling mortgage rates and seasonally slower competition,” said Danielle Hale, chief economist at Realtor.com<\/span><\/a>. “At the same time, a lack of housing affordability continues to be a challenge keeping home sales in their historically low level.”<\/p>\n<\/blockquote>\n

So, for now, the market remains bifurcated: wealthy cash buyers thriving while first-timers wait on the sidelines, watching homeownership drift further out of reach. Still, there’s reason for cautious optimism. Housing inventory has risen for 20 consecutive months<\/a>, giving buyers more options and less competition than the pandemic frenzy. And homebuilders are offering incentives, with a June 2025 survey<\/a> showing that 37 percent had cut prices by an average of five percent. For buyers willing to accept mid-6s mortgage rates rather than wait for a drop that may never come, conditions are finally improving.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you’ve doom-scrolled through TikTok real estate content lately, the vibes are confirmed: buying your first home is harder than ever. According to the National Association of Realtors’ (NAR) 2024 Profile of Home Buyers and Sellers, first-time buyers represent just 24 percent of all purchases. That’s a historic low down 32 percent from the previous …<\/p>\n","protected":false},"author":14,"featured_media":83305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[109],"tags":[114,444,1426,1427],"class_list":["post-83307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-news","tag-housing-market","tag-first-time-buyers","tag-mortage-rates"],"acf":[],"yoast_head":"\nProspective Young Buyers Feel the Housing Market Squeeze - crednews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cred.ai\/news\/2025\/11\/20\/prospective-young-buyers-feel-the-housing-market-squeeze\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prospective Young Buyers Feel the Housing Market Squeeze\" \/>\n<meta property=\"og:description\" content=\"If you’ve doom-scrolled through TikTok real estate content lately, the vibes are confirmed: buying your first home is harder than ever. 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