At What Age Do Most People Buy A Home?
The typical first-time home buyer is 33 years old, according to recent data by the National Association of Realtors. This means that for the average American, buying a home typically happens at an age in which they have finished building their career, completed their education and are positioned to live comfortably. Visit here https://www.martinlegacyholdings.com/sell-my-house-fast-in-martinez-ga/ for more information.
How old is the typical first-time home buyer?
The National Association of Realtors (NAR) gathered data on the age of first-time home buyers from 2006 to 2012. In 2012, the average age for a first-time home buyer was 33. In seven years before that, from 2001 to 2007, the average age was 35. This data reflects the overall trend of younger generations buying their homes later in life than older ones did in decades past. Both first-time and repeat buyers are increasingly older than they were in the past.
What is the typical age of a repeat home buyer?
The average age of a repeat home buyer was 44 in 2012. The average age of repeat home buyers has fluctuated over time, but has been gradually increasing for decades now. Last year was down from both 2007 (48) and 2006 (46). In 1984, when NAR first started collecting data on the question, the average age of a repeat home buyer was 33.
Are there any differences in the average age of first-time and repeat home buyers?
The age gap between first-time and repeat buyers has also been widening over time. In 1982, the average first-time buyer was just six years younger than the average repeat home buyer. In 2012, the average first-time home buyer was 10 years younger than the average repeat buyer. The age gap is a trend that has been consistent over time.
What are the differences in the average ages of first-time and repeat buyers?
In 2012, some age variations were noticeable between first-time and repeat home buyers. In particular, repeat home buyers were more likely to be older than 65 (6% vs. 2%). This can be attributed to the longer lifespans of older generations compared to younger ones, since most of the older generations bought their homes decades ago when they were younger.
The average age of first-time home buyers was fairly consistent across groups, coming in at 34 years old for both married and unmarried buyers, 33 years old for both male and female buyers, and 35 years old for self-purchasers compared to 36 years old for buyer who purchase the home with.