First-Time Homebuyer Share Down, Median Age Up

According to the national report by the National Association of REALTORS® (NAR), first-time homebuyers now make up only 21 % of all buyers and their median age has climbed to 40 years old.

While that’s national data, let’s look at how it applies to Texas and what the implications are for the Lone Star State.

Texas Snapshot: What the Data Shows

• In Texas, the Texas REALTORS®’ 2024 Texas Homebuyers & Sellers Report noted that first-time buyers accounted for about 31 % of buyers (which is considerably higher than the national 21 % figure).

• In an earlier period (July 2020–June 2021) Texas data showed ~32 % of all buyers were first-timers, with a median age of 30 years old for those first-time buyers in that period.

• So in Texas the share of first-time buyers is still higher than national, and ages historically younger; but given the national trend, Texas is likely tracking toward older ages and maybe lower shares in coming years.

Although Texas currently enjoys a higher share of first-time buyers than the national average, the national shift to fewer first-time buyers and older buyer ages is a bellwether for what many real estate markets—including those in Texas—will face. For real-estate professionals, staying ahead means adapting your marketing, buyer-education, and neighbourhood targeting to reflect this evolving reality.

Connect with Monte to learn more!