Statistics · 2026 · Real Estate
First-Time Homebuyer Statistics (2026)
First-time buyers were just 21% of U.S. home buyers in the NAR 2025 Profile — a historic low against a pre-2008 norm near 40%. Their median age reached 40, and the typical first-time down payment was 10%. FHA still backed first-time buyers on 83.03% of its FY 2025 purchase endorsements.
Key takeaways
- First-time buyers were 21% of all buyers in the NAR 2025 Profile, versus a pre-2008 norm near 40%.
- The median first-time buyer was 40 years old — the highest age NAR records in this series.
- The typical first-time down payment was 10%; repeat buyers put down a median 23%, and 30% of repeat buyers paid cash.
- FHA first-time purchase endorsements were 538,642 in FY 2025, or 83.03% of purchase loans.
- The Census HVS homeownership rate was 65.0% in the second quarter of 2026.
What share of home buyers are first-time buyers?
First-time buyers were 21 percent of all home buyers in the NAR 2025 Profile, the lowest share in the report's history. Before 2008 the share usually sat near 40 percent. That gap is the clearest signal that entry-level purchase demand is thin.
1. First-time share: 21% of all buyers
The NAR 2025 Profile of Home Buyers and Sellers says first-time home buyers in the last year shrank to a historic low of just 21 percent of all buyers. Prior to 2008 the share had a historical norm of 40 percent.
2. About half the pre-2008 norm
At 21 percent versus a 40 percent norm, the first-time share is roughly half its long-run pre-crisis level (WealthyBud arithmetic on the NAR figures).
| Measure | First-time buyers | Repeat buyers / all buyers |
|---|---|---|
| Share of all buyers | 21% | Pre-2008 norm ~40% |
| Median age | 40 | Repeat median age 62 |
| Typical / median down payment | 10% | Median 23%; 30% paid cash |
| Down-payment source (first-time) | Savings 59%; financial assets 26% | NAR Profile |
| Purchased through an agent (all buyers) | 88% | NAR Profile |
How old is the typical first-time homebuyer?
The median first-time buyer is 40 years old in the NAR 2025 Profile, the highest age in the series. In the 1980s the typical first-time buyer was in their late 20s. Repeat buyers' median age is 62. See the tables and sources on this page.
3. Median first-time age: 40
NAR reports the median age of first-time buyers is now 40, the highest recorded in the Profile series. In the 1980s the typical first-time buyer was in their late 20s.
4. Repeat-buyer median age: 62
Repeat buyers also have the highest median age in the report’s history, at 62. Half of repeat buyers are over that age, per the Profile introduction.
How much do first-time buyers put down?
First-time buyers typically put 10 percent down, matching the highest first-time down-payment share NAR records here. Repeat buyers' median down payment is 23 percent, and 30 percent of repeat buyers paid cash. See the tables and sources on this page.
5. Typical first-time down payment: 10%
NAR says the typical down payment for first-time buyers was 10 percent, matching the highest share recorded in the Profile. Among first-time buyers, 59 percent used personal savings and 26 percent used financial assets for the down payment.
6. Repeat buyers: median 23% down; 30% paid cash
Repeat buyers entered with large down payments (median of 23 percent). 30 percent paid cash and did not finance the home, per NAR.
7. 88% of buyers used a real estate agent
Eighty-eight percent of home buyers purchased their homes through a real estate agent or broker, according to the same NAR Profile.
How often does FHA finance first-time buyers?
In FY 2025, 83.03 percent of FHA forward purchase endorsements — 538,642 loans — went to first-time homebuyers. Purchase loans were 74.02 percent of FHA forward endorsements that year. See the tables and sources on this page. See the tables and sources on this page.
8. FHA first-time share of purchase loans: 83.03%
The FHA Mutual Mortgage Insurance Fund FY 2025 report states that in FY 2025, 83.03% — or 538,642 forward purchase mortgage endorsements — facilitated mortgages for first-time homebuyers.
9. Purchase loans: 648,764 (74.02% of forward endorsements)
FHA reports 648,764 purchase mortgages in FY 2025, or 74.02% of forward endorsements. The overview also notes FHA insured more than 876,000 single-family home mortgages that year.
10. 57.69% of FHA purchase loans used no down-payment assistance
In FY 2025, 57.69% of FHA purchase mortgage endorsements did not utilize any down-payment assistance, per the MMI Fund report.
| Measure | FY 2025 |
|---|---|
| Forward purchase endorsements | 648,764 |
| Purchase share of forward endorsements | 74.02% |
| First-time purchase endorsements | 538,642 |
| First-time share of purchase endorsements | 83.03% |
| Purchase endorsements with no down-payment assistance | 57.69% |
| Single-family mortgages insured (overview) | More than 876,000 |
What is the U.S. homeownership rate right now?
The U.S. homeownership rate was 65.0 percent in the second quarter of 2026, unchanged from a year earlier, per Census HVS. Owner-occupied units numbered 86,985 thousand. Rental vacancy was 7.3 percent. See the tables and sources on this page. See the tables and sources on this page.
11. Homeownership rate: 65.0% in Q2 2026
The Census Bureau Housing Vacancy Survey (Q2 2026) put the national homeownership rate at 65.0%, virtually the same as Q2 2025. Owner-occupied units were 86,985 thousand.
12. Rental vacancy 7.3%; homeowner vacancy 1.2%
National vacancy rates in Q2 2026 were 7.3% for rental housing and 1.2% for homeowner housing, per the same Census release.
| Measure | Q2 2026 |
|---|---|
| Homeownership rate | 65.0% |
| Owner-occupied housing units | 86,985 thousand |
| Rental vacancy rate | 7.3% |
| Homeowner vacancy rate | 1.2% |
13. Homeownership flat year over year at 65.0%
Census said the 65.0% rate in Q2 2026 was virtually the same as Q2 2025 (65.0%). A stable ownership rate alongside a record-low first-time purchase share means tenure is holding even as entry buyers thin out.
14. More than 876,000 FHA single-family mortgages in FY 2025
FHA’s overview states the agency insured more than 876,000 single-family home mortgages in FY 2025, of which eighty-three percent of purchase mortgages supported first-time homebuyers — matching the 83.03% detail in the endorsement tables.
What this means for buyers and investors
A 21-percent first-time share and a median age of 40 mean entry buyers are older and scarcer than the pre-2008 norm. FHA still concentrates on first-time purchase credit, while cash-heavy repeat buyers set more of the market's tone. See the tables and sources on this page.
15. First-time share is about half the pre-2008 norm
Comparing NAR’s 21% first-time share with the pre-2008 40% norm shows entry demand near half its long-run level (WealthyBud arithmetic). That is a national survey result, not a metro forecast.
16. FHA remains a first-time channel even when NAR’s share is low
While NAR’s buyer survey puts first-time purchases at 21% of all buyers, FHA’s purchase book was still 83.03% first-time in FY 2025. Those measures cover different universes: all buyers versus FHA-insured purchase loans.
17. Cash and larger down payments favor repeat buyers
Repeat buyers’ median 23% down payment and 30% cash share sit far above the first-time 10% typical down payment. That gap helps explain why entry buyers stretch longer to save.
Investors reading migration and price rankings should not assume a deep bench of first-time demand. NAR’s 21% first-time share and median age of 40 describe an older, thinner entry cohort, while 30% of repeat buyers paying cash and FHA’s 83.03% first-time purchase share show how credit channels still differ. Pair these national figures with metro pages, homeownership statistics, home equity statistics, and mortgage rate statistics. For where filers are moving, see where people are moving; for affordability screens, see cheapest places to buy a house.
None of these sources alone says whether a specific metro is a good buy. Use the tables above as national context, then check local list prices, inventory and rents on WealthyBud market pages before you underwrite a deal. Figures here stop where the cited reports stop — no modeled first-time shares by city, and no invented income or purchase-price medians beyond what NAR, Census and FHA printed.
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