The average age of first-time homebuyers declined to 35 in 2025, down from 36 a year earlier and a peak of 38 in 2018, according to a report by real estate brokerage Redfin. The average age of repeat buyers also fell to 47 after reaching 52 the previous year.
A slight improvement in housing affordability during 2024 and 2025, along with increased supply, contributed to this decline. The average interest rate for a 30-year fixed mortgage stood at 6.6% in 2025, compared with 6.72% in 2024, despite a slowdown in home price growth.
Across the United States, overall purchasing power has improved, and further gains are expected throughout the year. Homeownership rates among Generation Z rose to 27.1% in 2025 from 26.1% in 2024, while the rate for Millennials increased from 54.9% to 55.4%.
Young buyers continue to face additional challenges entering the housing market, as they often rely primarily on their savings and salaries. Nevertheless, even modest improvements in affordability provide them with opportunities to begin building property ownership.
A survey conducted in November 2025 found that about 20% of Millennials and 14.8% of Generation Z received cash assistance from their families to help cover home down payments, while others relied on selling investments or withdrawing retirement funds.
Although estimates differed between Redfin and the National Association of Realtors (NAR)—with Redfin estimating the average first-time buyer age at 35 compared with 40 according to NAR—both organizations agreed that Americans are generally purchasing homes later in life than in the past.
