First-Time Homebuyers Now Average 40 Years Old Nationwide

The median age of first-time homebuyers in the U.S. has climbed to a record 40 years old. This shift reflects deep-rooted affordability challenges tied to soaring home prices, a shortage of available properties, and elevated interest rates. According to the National Association of Realtors, first-time buyers are delaying home purchases well beyond traditional milestones like marriage or childbirth.

Zillow CEO Jeremy Wacksman attributes this rise to the difficulty of saving for down payments amid a housing market where prices have surged 60 percent since before the pandemic. The supply crunch—estimated at about 4.7 million homes—intensifies as sellers hold onto low mortgage rates, postponing moves and limiting listings. In response, Zillow recently launched an AI-powered educational mode and introduced Zillow Preview to highlight “coming soon” homes.

Meanwhile, a bipartisan housing bill aimed at easing regulatory barriers and curbing corporate home ownership passed the Senate with strong support. Despite these efforts, Wacksman warns that no short-term relief is expected. Montana’s housing market could feel similar pressures if affordability and inventory remain constrained. The state’s rural character and dispersed population might influence how supply shortages and high rates shape buying decisions, potentially extending the timeline for first-time buyers to enter the market.

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