Hitting 40 before buying a first home? Agents explain why

America’s housing ladder is missing a few rungs.

The median first-time homebuyer is now 40 years old — a record high — and some of the country’s most seasoned agents say the “starter home” has become more of a luxury.

“One of the things that I see is that younger people are battling more debt,” Compass’ Laura Worrell told Fox News Digital. “The cost of homeownership is outpacing the entry-level job market … it’s very difficult to save money to be able to have a down payment and to do those types of things and … it’s not entirely their fault. I mean, there’s just so much against them, so many factors.”

“I feel strongly that the American dream still exists, and that dream is to buy a home, start a family, whatever that means for you,” Compass top agent Miltiadis Kastanis also told Fox Digital. “But I do think that the American dream still has homeownership at the core root of it … It’s still there, but as time goes on, we have to adapt as Americans to the environments we’re in.”

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The National Association of Realtors released its 2025 Profile of Home Buyers and Sellers earlier this month, finding that the median age of first-time homebuyers jumped to the highest ever recorded at 40 years old. The report attributed this to limited housing inventory and longer saving and search periods.

America’s first-time homebuyer hit a new record high age of 40, according to the National Association of Realtors. (Getty Images)

Data from the Federal Reserve Bank of St. Louis shows the national median sales price of houses sold in the U.S. reached $410,800 in Q2 2025. Additionally, Zillow data from earlier this year found that U.S. home values have risen more than 45% since 2020.

“I have noticed that the homebuyer age has increasingly become older through time. I mean, even for my generation, I’m now 40 years old, I bought my first home when I was 19 years old, and I notice I don’t work with many 19-year-olds today,” Kastanis reacted.

“My first home that I ever bought was nowhere near the world of what somewhat-younger people are expecting from a first home. I think expectations have changed,” he continued. “I think they’re surrounded by people, of seeing online what others have, and they’re expecting way more … Prices for sure have changed, right? Like, at some point, I never dreamed of having a $1 million home, where now $1 million in my market doesn’t get you much.”

“I see younger people adjusting their expectations,” Worrell agreed. “A lot of people in…