Core Insights - The median age of first-time homebuyers has reached a record high of 40 years in 2025, significantly increasing from the late 20s in the 1980s, indicating a shift in homeownership trends [2][5] - The rising age of first-time homeownership reflects the growing challenges in achieving the "American dream," despite a generally prosperous economy [3] Economic Implications - Homeownership has transitioned from a standard milestone to an almost unaffordable luxury, particularly exacerbated by the pandemic [4] - Monthly mortgage payments have surged to a median of $3,106, nearly double the $1,597 payment recorded in January 2020, driven by soaring home prices and mortgage rates between 6% and 7% [4] Financial Barriers - First-time buyers face multiple financial obstacles, including high rent and student loan payments, which hinder their ability to save for down payments [5] - The proportion of first-time homebuyers has dropped to 21% of home sales, a record low, compared to around 40% before the 2008 housing crash [5]

As housing remains scarce, pricey, and out of reach, the share of first-time home buyers has hit an all-time low. Just 21% of buyers were first-timers in the 12 months ending June 2025, the National Association of Realtors said in its 2025 Profile of Home Buyers and Sellers, released Nov. 4. That’s only about half the long-time average share of 38% in records going back to 1981. Meanwhile, the average age of the first-time buyer rose once again, to 40. "The implications for the housing market are stagge ...

Core Insights - The 2026 housing market is expected to be more favorable for buyers, with mortgage rates cooling and increased inventory, allowing for better financial preparation [2][15] - Inflation has decreased to approximately 3% year over year, which may lead to potential rate cuts by the Federal Reserve, providing relief on borrowing costs [2][15] - Buyers are encouraged to start preparing now to secure favorable mortgage rates and improve their financial readiness [3][12] Financial Preparation - Prospective homebuyers should assess their finances and get organized before considering home purchases [4] - Participating in home-buyer education courses can enhance understanding of the buying process and boost confidence [5][6] - It is crucial to evaluate budgets realistically, factoring in major upcoming expenses to understand comfortable monthly payments [7][8] Understanding Costs - Buyers often overlook hidden costs such as property taxes, insurance, and maintenance, which can significantly impact affordability [8][9] - Preparing financially for at least six months before applying for a mortgage is recommended, including checking credit reports and managing debt [8][9] Down Payment Myths - The belief that a 20% down payment is necessary is largely a myth; various loan options allow for lower down payments [10][11] - FHA loans can require as little as 3.5% down, and VA loans may allow for $0 down at closing [11] Timing and Market Conditions - Experts advise against trying to time the market, as personal and financial readiness should be the primary focus when considering a home purchase [12][13] - The market in 2026 is expected to be more balanced, but affordability will likely improve more from easing interest rates than from falling home prices [16][15] Savings Recommendations - It is advisable to save 2% to 5% of the purchase price for closing costs, in addition to the down payment [17] - Having three to six months of expenses saved before closing can help manage unexpected homeowner costs [18]

Core Insights - Albert Lea, Minnesota is identified as the best retirement town for middle-class Americans, with 42% of households receiving Social Security benefits and 27% receiving retirement income [1] - Florida is highlighted as both the state with the highest and lowest retirement incomes, with Venice, Florida having the highest average retirement income at $81,001, while New Port Richey has the lowest at $17,859 [2][3] - The analysis by GOBankingRates ranks 50 American cities based on financial comfort, safety, and livability for middle-class retirees [4] Summary by Category Retirement Town Rankings - Albert Lea, Minnesota has the lowest annual cost of living at $29,333, while Huntley, Illinois has the highest at $48,184 [1] - Florida dominates the list with 26 out of the top 50 best retirement cities for middle-class retirees [3] Financial Metrics - Average retirement income in Venice, Florida is $81,001, nearly double that of The Villages, Florida at $47,355 [2] - In Green Valley, Arizona, 68% of homes receive retirement income, and 84% receive Social Security benefits [8] Demographics - Sun City West, Arizona has a senior population of 85.8%, indicating a strong retirement community [2] - In Hot Springs Village, Arkansas, 73% of homes receive Social Security benefits, with 63% receiving retirement income [12] Methodology - GOBankingRates selected cities with populations over 15,000, at least 25% of residents aged 65 and older, and average home values under $500,000 [4][163]

Core Insights - Home prices have surged due to intense competition for a limited supply of available homes, with investors significantly contributing to this demand [1][7] - Investor activity in the housing market remains at historically high levels, with expectations for continued strength in the coming years [2][3] Investor Activity - Investors accounted for 29% of all U.S. single-family homebuyers in Q2 2025, up from 25% a year prior and significantly higher than the less than 15% recorded five years ago [3][6] - Major metro areas are the most active for investor purchases, with cities in the Sunbelt states showing particularly high levels of investor activity [3][4] Top Cities for Investor Purchases - The top cities for investor purchases from January to June 2025 include: 1. Dallas: 21,842 homes bought 2. Houston: 18,324 3. Atlanta: 15,536 4. Phoenix: 12,640 5. Los Angeles: 11,130 6. Chicago: 10,423 7. New York: 9,395 8. Tampa, Florida: 7,400 9. San Antonio: 7,337 10. Philadelphia: 7,239 11. Washington, D.C.: 6,750 12. Riverside, California: 6,749 13. Kansas City, Missouri: 6,334 14. St. Louis, Missouri: 6,076 15. Seattle: 5,930 16. Las Vegas: 5,803 17. Denver: 5,772 18. Detroit: 5,240 19. Charlotte, North Carolina: 5,102 20. Indianapolis: 4,983 [5][8] Investor Types - Small investors (fewer than 10 properties) represent the most common type at a 14% market share, while medium-sized investors (10 to 99 properties) have seen their market share rise to 10% [6] - The increase in investor activity is largely driven by medium-sized investors [6] Market Dynamics - Investors are stepping in to meet strong demand for rental housing, as high home prices and elevated mortgage rates have sidelined first-time homebuyers [7]

Housing Development - Telluride, Colorado aims to increase its borrowing capacity by over 300% to fund affordable housing projects [1]

Core Insights - The U.S. home turnover rate has reached its lowest level in nearly 30 years, with only 28 out of every 1,000 homes changing hands between January and September [1][2] - The current turnover rate is approximately 30% lower than the average rate from 2012 to 2022, indicating that homeowners are remaining in their homes longer [3] - Economic factors such as a stagnant job market and high mortgage rates are contributing to the low home sales activity [4][6] Economic Context - The U.S. job market has shown signs of weakness, with only 22,000 jobs added in August and a reported loss of 32,000 jobs in September, raising concerns about economic stability [4][5] - Major companies like Microsoft, General Motors, Amazon, and Target have announced job cuts, further impacting consumer confidence and home sales [5] - The housing market has been in decline since 2022, coinciding with rising mortgage rates that have deterred potential sellers [6] Housing Market Dynamics - Many homeowners who secured low mortgage rates in 2020 and 2021 are reluctant to sell due to the current high borrowing costs [6] - Sales of previously occupied homes have dropped to their lowest levels in nearly 30 years, although there was a slight acceleration in sales last month as mortgage rates eased [7] - Despite lower mortgage rates improving purchasing power, the median sales price of previously occupied homes has increased by 53% over the past six years, making affordability a significant issue for many buyers [8]

Prospective homebuyers have seen a small improvement in market conditions lately. However, the landscape is still pretty bleak, with rates elevated and economic uncertainty high. Sign up for Business Insider's daily markets newsletter here. Aspiring home owners have been waiting anxiously for the market to thaw, but while home sales rose in August, one firm thinks the market is likely to be stuck in the "dark ages" for a while still. Economic intelligence firm Pantheon Macroeconomics recently laid ...

Core Insights - Pending home sales in September remained unchanged from August and decreased by 9% year-over-year, contrary to market expectations of a 1% increase [1] - The average rate on a 30-year fixed mortgage was between 6.4% and 6.5% in September, slightly higher than the current rate of 6.1% [2] - Regional sales showed mixed results, with increases in the Northeast and South, while the Midwest and West experienced declines [2] - Housing inventory reached a five-year high, although it remains historically low [3] - The chief economist of the National Association of Realtors indicated that despite a record high stock market and increasing housing wealth, these factors were insufficient to counteract a potentially weakening job market [3]

Core Insights - Pending sales of existing US homes stalled in September, indicating buyer anxiety due to job market concerns despite lower mortgage rates [1][3] - The National Association of Realtors (NAR) reported that the index of contract signings remained at 74.8, with a previous month increase of 4.2% [2] - NAR Chief Economist Lawrence Yun noted that a record-high stock market and increased housing wealth were insufficient to counteract a softening job market [3] Market Trends - Mortgage rates are trending towards three-year lows, which may enhance affordability, although a potential government shutdown could hinder home sales activity [3] - The "lock-in effect," where homeowners hesitate to sell due to low-rate mortgages, is diminishing, contributing to increased inventory [4] - A national measure of home prices rose by 1.5% in August year-over-year, marking the smallest annual gain since mid-2023 [4] Regional Performance - Contract signings for previously owned homes increased by 1.1% in the South, reaching the highest level since March, while pending sales rose in the Northeast but fell in the West and Midwest [5] - The new-home sales market showed significant momentum, surging in August to the highest level since 2022, driven by builders offering price cuts and sales incentives [5] Leading Indicators - Pending home sales are considered a leading indicator for previously owned homes, as contracts typically occur one to two months before sales [6]