The median age of first-time homebuyers has remained steady over the past three decades while repeat buyers are aging, leaping upwards from 31 in 1981 to 47 in 2019. According to the National Association of Realtors (NAR), the reason for this increase is that people are living and working longer, therefore they remain longer in their homes.
According to Jessica Lautz, VP of demographic and behavioral insights at the NAR, “Tenure holding homes has increased from six and seven years and is now at ten years.”