Share of First-Time Homebuyers Ticked Up to 22% in 2026

Washington, DC, November 6, 2026—The share of first-time home buyers rose slightly to 22% from last year’s record low of 21%, while the typical age of first-time buyers remained at an all-time high of 40, according to the National Association of Realtors’ 2026 Profile of Home Buyers and Sellers. This annual survey of recent home buyers and sellers covers transactions between July 2025 and June 2026 and offers industry professionals, consumers, and policymakers detailed insights into homebuying and selling behavior.

A record 10% of first-time buyers paid all cash, as inheritances and other generational wealth transfers increasingly shape the path to homeownership. Among first-time all-cash buyers, 28% used an inheritance, compared with 9% of first-time buyers who financed.

“Affordability remains the biggest hurdle for first-time buyers,” said Jessica Lautz, NAR deputy chief economist and vice president of research. “The share of first-time buyers is still about half the historical norm of 40% seen before 2008, and those saving on their own continue to face high rent, student debt, and a shortage of homes they can afford.”

“The housing market is beginning to see a generational transfer of wealth. It’s not yet a tsunami, but it is changing who can buy a first home and when,” Lautz added. “Because people are living longer, the generation receiving that wealth is no longer young adults. Many are reaching middle age before they can buy their first home.”

First-time Buyers

• Median age: 40 years old—matching the all-time high
• 10% were all-cash buyers—the highest share on record
• Median age of all-cash first-time buyers: 54, compared with 38 for those who finance
• 9% median down payment

Top sources for down payment

• Personal savings (62%)
• Financial assets—such as a 401(k), stocks, or cryptocurrency (30%)
• Gifts or loans from family and friends (25%)
• Inheritance (10%)—the highest share on record

Repeat Buyers

• Repeat buyers accounted for 78% of all home purchases
• Median age: 62 years old—matching the all-time high
• 19% median down payment
• 30% were all-cash buyers
• Median household income: $127,000, up from $111,700 last year

“Repeat buyers are driving the housing market. Unlike first-time home buyers, repeat buyers have seen their housing equity grow rapidly over the past decade, enabling them to trade up for larger homes or move into more desirable locations. These are often moves by choice rather than necessity,” Lautz said.

All Buyers

• Median age: 58 years old
• Down from 59 last year
• 26% have children under the age of 18 living at home
• Up from 24% last year
• 14% purchased a multigenerational home
• 4% purchased with non-romantic roommates—an all-time high
• 14% bought to be closer to friends and family
• Up from 6% in 2000

All Sellers

• Median time in home before selling: 12 years—an all-time high
• Median distance moved: 30 miles
• 47% purchased a newer home
• 36% purchased a larger home
• Top reason for selling: to move closer to friends and family (22%)