Higher home prices and mortgage rates are a challenge for first-time buyers, but there's a lot more to the story than that.

In 2024, the median first-time homebuyer was 38 years old, according to the National Association of Realtors' 2024 Profile of Home Buyers and Sellers report. Factors including low inventory, wealthy ...

First-time homebuyers are typically defined as those entering the market who’ve never owned a home. However, anyone who has not owned a home for the last three years also qualifies as a first-timer.

Many first-time homebuyers might presume they're better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. While it's true that ...