The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering.
“The decision reflects the progress of our Tarrytown project, which is providing additional lab and office space to meet the needs of our growing R&D pipeline, as well as our desire to keep more colleagues together on fewer campuses.”
LVR selected Fernandez as its CEO after a lengthy nationwide search.
The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering.
WASHINGTON—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, according to the National Association of Realtors’ 2025 Profile of Home Buyers and Sellers released earlier today.
The annual survey of recent home buyers and sellers covers transactions between July 2024 and June 2025 and offers industry professionals, consumers, and policymakers detailed insights into homebuying and selling behavior.
“The historically low share of first-time buyers underscores the real-world consequences of a housing market starved for affordable inventory,” said Jessica Lautz, NAR deputy chief economist and vice president of research. “The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering. Today’s first-time buyers are building less housing wealth and will likely have fewer moves over a lifetime as a result.”
“Unfolding in the housing market is a tale of two cities,” Lautz explained. “We’re seeing buyers with significant housing equity making larger down payments and all-cash offers, while first-time buyers continue to struggle to enter the market.”
“For generations, access to homeownership has been the primary way Americans build wealth and the cornerstone of the American Dream,” said Shannon McGahn, NAR executive vice president and chief advocacy officer. “Delayed or denied homeownership until age 40 instead of 30 can mean losing roughly $150,000 in equity on a typical starter home. FHA and VA programs have helped millions of Americans access homeownership, join the middle class, and create intergenerational wealth – a testament to smart government policy in support of homeownership.”
“Today, we must focus on policies that address the root cause of the affordability crisis: inadequate housing supply,” McGahn added. “That means both unlocking existing inventory and enabling new construction. We need solutions that encourage more owners to sell, revitalize underused properties, streamline local zoning and permitting barriers, and modernize construction methods to build more homes faster and more affordably. These commonsense reforms make homes more affordable, restore opportunity, and help revive the dream of homeownership for generations to come.”
“Real estate agents remain indispensable in today’s complex housing market,” Lautz said. “Beyond guiding buyers and sellers through what is often the largest financial decision of their lives, agents provide critical expertise, negotiation skills, and emotional support during an increasingly challenging process.”
Learn more and download highlights from the report at https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers
“The decision reflects the progress of our Tarrytown project, which is providing additional lab and office space to meet the needs of our growing R&D pipeline, as well as our desire to keep more colleagues together on fewer campuses.”
LVR selected Fernandez as its CEO after a lengthy nationwide search.
Parcel A will deliver the first phase of housing as part of the city’s larger commitment to advance the development of approximately 1,500 new homes in Coney Island on city-owned surface parking lots near the boardwalk.
Blackstone Real Estate Debt Strategies provided the financing, the proceeds of which will be used to retire existing debt and fund future leasing activity.
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