35 Is the New 30 When It Comes to Buying Your First Home

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If you pictured a first-time homebuyer as someone in their late 20s eagerly signing paperwork, you may need to update that image. According to a February 2025 Redfin analysis, the median age of a first-time homebuyer in the United States has settled at 35 years old, dipping slightly from 36 the year prior and pulling back from a peak of 38 in 2018. For repeat buyers, the median age dropped even more noticeably to 47 from a historic high of 52 in 2024. These numbers tell a nuanced story about where the housing market stands today and who is actually walking through those open house doors.

Why Affordability Is Quietly Shifting the Game

The slight decline in the median homebuying age reflects a modest but meaningful improvement in housing affordability. Mortgage rates averaged around 6.6% in 2025, marginally better than 6.72% the prior year, and while home prices continued to rise, the pace of growth slowed. That small opening was enough to give a few more younger buyers the foothold they needed to enter the market. Affordability is still far from easy, but the trend is moving in the right direction across most major metros, and expectations are that conditions will continue to improve throughout the year.

It is worth understanding why younger buyers face a steeper climb than older ones. First-timers typically cannot draw on equity from a previous sale. They rely on savings and income alone, which makes them especially sensitive to rate and price fluctuations. When even a fraction of relief materializes, it can be the difference between renting for another year or finally signing a purchase agreement.

How Millennials and Gen Z Are Getting to the Closing Table

Gen Z's homeownership rate edged up to 27.1% in 2025 from 26.1% the year before, and millennials reached 55.4%, up from 54.9%. These gains are modest, but they represent real people crossing the threshold into ownership. What is perhaps more telling is how they are getting there. A Redfin-commissioned survey conducted in November 2025 found that roughly one in five millennials who recently purchased a home received a cash gift from family to assist with their down payment, and about 14.8% of Gen Z buyers reported the same. Around one in five buyers from both generations liquidated stock investments to cover a down payment, and roughly 13% tapped retirement savings early.

As Redfin's head of economics research noted, wages have grown over the past several decades but have not kept pace with housing costs, particularly after the pandemic-era price surge and the subsequent rise in interest rates. That gap has pushed younger buyers to get creative, leaning on family wealth, investment portfolios, and even retirement funds to bridge the affordability divide.

Repeat Buyers Are Moving Again Too

The drop in the median repeat buyer age from 52 to 47 is equally significant. Much of the movement in 2025 came from pent-up demand that had been building throughout 2024, when persistently high mortgage rates kept many would-be sellers locked in place. Some of those homeowners finally decided to act once rates eased even slightly, while others simply made peace with the new rate environment and moved forward with their plans. Either way, the return of repeat buyers to the market adds valuable inventory and creates more opportunities across the board.

What This Means for Buyers and Sellers in Orange County

Orange County's real estate market reflects these national trends in its own distinct way. Buyers here are sophisticated, often well-researched, and increasingly drawing on non-traditional financing sources to compete in a premium market. Whether someone is a millennial in their early 30s pooling resources with family support or a 50-something repeat buyer finally ready to upsize or downsize, understanding where the market stands and how buyers are actually funding their purchases matters enormously when preparing a home to sell or evaluating what you can realistically afford to buy.

The data reinforces something experienced local agents have observed for years: homeownership is becoming a longer-game strategy, and buyers are putting more thought, preparation, and financial creativity into the process than ever before. That makes working with the right agent not just helpful but essential.

Bottomline

Whether you are a first-time buyer finally feeling like the timing is right, a repeat buyer ready to make your next move, or a homeowner considering whether now is the moment to list, Orange County is a market worth navigating carefully and confidently. At Whitestone Real Estate, I specialize in helping buyers and sellers across Orange County make smart, informed decisions at every stage of the journey. If you have been thinking about a move, let's connect. Your future in one of Southern California's most coveted communities could be closer than you think.

Reference: Anderson, D., & Khan, A. (2026, February 25). The typical first-time homebuyer is 35 years old. Redfin News.