Let’s start with the first-time homebuyers — which, as of late, have become somewhat distinct. Historically, first-time home buyers have made up about 40 percent of industry sales each year. This year, however, we are at a national all-time low of just 21 percent. Elevated prices along with the new interest rates (which are quite normal, by the way) have made the struggle to save for a down payment an Olympic sport — minus the medal ceremony. Add mounting student loan debt, credit card payments and steep car payments and we’ve got all the ingredients for making another decade of life in the parents’ basement a very real possibility.

When the first-time homebuyers finally can make a purchase, they are not at all the mid-twenties, scrappy and hungry youngsters they once were. Because now the average age of these first-time buyers has climbed to an all-time high of 40 years old. Back in 2010, it was 30. Turns out, when homes cost a small fortune, you must now wait a decade (or two) before you can afford one.

Meanwhile, repeat buyers are aging with wisdom — or maybe just staying put until the grandkids are in college. The typical repeat buyer is now 62 years old, up from 36 in 1981. Most are downsizing, relocating for retirement, or finally cashing out their equity jackpot. The younger ones? They’re trapped in their golden handcuffed, ultra-low 3% mortgage and not about to give that up.

Here’s another fun tidbit I picked up in my riveting readings: Only 24% of buyers have kids under 18 at home. Back in 1985, it was 58%. As it turns out, families with little ones are increasingly rare in the buyer pool. Between later-in-life parenthood, fewer kids overall, and sky-high childcare costs which prohibit saving much at all, the “white picket fence” dream is looking a little less like a family sitcom and more like a poorly acted drama. However, for those who did end up purchasing, the money contributed to higher down payments has significantly increased. This is true for first timers as well as repeat buyers. Of course, it helps when the existing home equity has ballooned to Monopoly-money levels. Bigger down payments equate to lower monthly costs — a small consolation prize in this interest-rate circus.

Speaking of cash, first-time buyers are no longer relying on the Bank of Mom and Dad as much. For the first time ever, more of them are using their own financial assets, i.e., stocks, savings, maybe even those pandemic-era crypto gains (RIP). Inheritances are also at a record high, which might explain how some of these first-time buyers can suddenly swing six figures for a down payment. Don’t get any ideas, children of mine, we are planning on spending ALL of your inheritance before checking out.

Frankly, cash buyers in general are still holding strong at 26% nationwide. Lest you assume these are all investors, this stat only reports on primary residences. Thus, one quarter of all “regular” buyers are laying down the full amount in pure liquid gold.

The typical homeowner now stays put for 11 years before selling — the longest stretch on record. Those 3% mortgages are clearly working their magic, locking people in place like they’re under house arrest (voluntarily, of course).

Despite all the chaos, the “real” Realtors, those of us who have both feet in the business and work hard regardless of what the economy attempts to dictate, are thriving. Nearly 90 percent of buyers still use a Realtor to help navigate the madness. It’s a good thing too. Honestly, there’s never been a moment when having a seasoned pro on your side matters more. Apparently, when you’re spending hundreds of thousands of dollars, you want someone who knows what they’re doing.

Sellers are even more agent loyal. Over 90 percent hired one to get the job done. The remaining 5 percent or so who went the “For Sale by Owner” route already knew their buyer. It is still tricky to navigate. Why would anyone willingly juggle marketing, pricing, showings, negotiations, inspections, and so forth, without backup?

There it is in a nutshell. The housing market in 2025: older, pricier, and less kid-friendly than ever. That said, this is a national snapshot — so take it with a grain of Utah salt. Around here, we like to think we march to our own drumbeat when it comes to real estate. Even if our stats don’t match the national ones, we do know this: first-time buyers are getting creative, repeat buyers are cashing in their equity, and a good agent can make even the trickiest market feel a little less like a nightmare. Buckle up, keep your sense of humor handy, and remember — this rollercoaster is a lot more fun if you don’t try to ride it solo.

Jen Fischer is an associate broker and Realtor. She can be reached at 801-645-2134 or jen@jen-fischer.com.