The Average First-Time Homebuyer Is 38. So Why Are So Many People Still Feeling Behind?

According to the National Association of Realtors, the median age of a first-time homebuyer recently hit a record high of 38 years old. At the same time, first-time buyers made up just 24% of all home purchases, the lowest share on record.

When I saw that statistic, my reaction wasn't surprise.

Honestly, it felt pretty consistent with the conversations I've been having over the past few years.

A lot of people assume they're behind when it comes to homeownership. They thought they'd buy a home in their twenties or early thirties. They thought they'd have more saved by now. They thought they'd be further along than they are. Meanwhile, they're trying to navigate rising rents, student loans, childcare costs, career changes, relocations, or simply the reality that being an adult in 2026 is expensive.

The funny thing is that many of these people are comparing themselves to a version of homeownership that doesn't really exist anymore.

For years, the expectation was fairly straightforward. Go to school, get a job, buy a house, move into something bigger later. But life doesn't follow that script for a lot of people anymore, especially here in Minnesota where I've worked with buyers from all kinds of backgrounds and life stages.

Some people spend their twenties and thirties building careers. Some focus on graduate school or paying down debt. Some prioritize travel, family responsibilities, starting a business, or figuring out where they actually want to live before committing to a home purchase. Some are buying after a divorce. Some are buying on a single income. Some are moving to Minnesota and deciding to put down roots after renting for a few years.

What they all have in common is that they often assume everyone else has already figured it out.

One of the biggest misconceptions I encounter is that there is a "typical" homebuyer. People imagine someone with perfect credit, a huge down payment, and a financial situation that's been neatly organized for years. Then they compare themselves to that imaginary person and decide they're probably not ready.

In reality, most buyers are juggling real-life responsibilities. Their financial picture isn't perfect. Their timeline didn't unfold exactly the way they planned. They have questions, concerns, and sometimes a healthy amount of skepticism about whether homeownership is realistic.

That's normal.

It's also one of the reasons I encourage people to have conversations earlier than they think they need to. Not because I think everyone should run out and buy a house tomorrow. Quite the opposite.

Sometimes the conversation confirms that waiting makes sense.

Sometimes it uncovers opportunities a buyer didn't realize existed.

Sometimes it creates a game plan for the next six months or year.

And sometimes it turns out the person who felt wildly unprepared is actually much closer than they thought.

The point isn't that everyone is ready to buy. The point is that assumptions are a terrible substitute for information.

The housing market has changed. The timeline to homeownership has changed. The people buying homes have changed.

Maybe it's time to stop comparing yourself to a version of homeownership that was built for a completely different generation.

If owning a home is something you've been thinking about, the most helpful thing you can do isn't spend another six months wondering whether you're behind.

It's finding out where you actually stand.

Thinking About Buying Your First Home in Minnesota?

Whether you're hoping to buy next year, five years from now, or you're simply curious about what's possible, I'd be happy to be a resource. A conversation doesn't commit you to anything, but it can help replace a lot of guesswork with a much clearer picture of your options.

Sources

• National Association of Realtors, 2024 Profile of Home Buyers and Sellers. Median first-time homebuyer age reached 38 years old; first-time buyers represented 24% of all buyers. [nar.realtor], [rismedia.com]

Important Information

This article is provided for general educational and informational purposes only and is not intended as legal, tax, accounting, financial planning, or mortgage advice. Mortgage qualification and loan eligibility are subject to lender guidelines, credit approval, verification of information, and applicable program requirements. Individuals should consult with qualified legal, tax, and financial professionals regarding their specific circumstances.