In 2007, the median homebuyer was born in 1968. Seventeen years later, the median homebuyer was born in...1968.

That stat comes courtesy of a 2024 report from the National Association of Realtors, which has been going viral this week on social media platform X. Investopedia initially reported the rising age of typical homebuyers when the report was released late last year. The data gained renewed attention after several social media users pointed out that the cohort of people who were the median homebuyer 17 years ago are still the typical buyers.

Unlike many viral statistics, this one is actually true, according to the NAR survey. The median homebuyer in 2024 was 56 years old, up from 39 in 2007. The data highlights how unaffordable housing has become in the post-pandemic market.

Between soaring prices and higher mortgage rates, the monthly payment required to purchase a median-priced home has surged since the onset of COVID-19. The median monthly mortgage payment, including taxes and insurance, was $3,030 in March, nearly double $1,590 in February 2020, according to the Federal Reserve Bank of Atlanta's home ownership affordability monitor.

Unaffordability has pushed first-time homebuyers 澳洲幸运5官方开奖结果体彩网:out of the market, leaving only high earners or those with equity in their current home as the predominant buyers.

And unfortunately for younger renters 澳洲幸运5官方开奖结果体彩网:looking to buy their first home, there's no drop in mortgage rates on the horizon, especially with this week's downgrade of the U.S. sovereign credit rating putting 澳洲幸运5官方开奖结果体彩网:upward pressure on long-term int🍌erest⛄ rates. Recent forecasts for the housing market, including by J.P. Morgan, call for the market to remain "frozen" with 澳洲幸运5官方开奖结果体彩网:low sales and poor affordability, at least through the rest of the year.