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Housing affordability squeezes first-time buyers and delays milestones

HousingWire cites data showing first-time buyers made up 21% of purchases in 2024, with average buyer age rising to 40 as high costs reshape relationship decisions.

Reported · Written up by our desk · Residential

Housing affordability is increasingly influencing how singles and couples approach commitment and home purchases, HousingWire writes, with conversations shifting from lifestyle preferences toward up-front financial screening.

The piece points to affordability pressures reflected in higher costs, including about $18,000 more in annual costs for singles in some metro areas, and closing costs that can run roughly $25,000 to $40,000.

HousingWire also links the squeeze to first-time buyer behavior, saying first-time buyers accounted for 21% of purchases in 2024 and that the average age of first-time buyers reached 40.

According to HousingWire, the change is showing up transaction by transaction as couples weigh debt, income stability, and mortgage responsibility earlier, with housing costs affecting timelines for milestones such as marriage and decisions about combining income.

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