Name: New report shows share of first-time home buyers dropped to record low
Uploaded: 2025-11-17T01:00:38.831Z
Duration: 2 min 21 s
Description: The American dream feels increasing out of reach as home prices have skyrocketed for years. The latest report from the National Association of Realtors shows the share of first-time home buyers has dropped to 21%.

The American dream feels increasing out of reach as home prices have skyrocketed for years. The latest report from the National Association of Realtors shows the share of first-time home buyers has dropped to 21%.

Burbank

A recent report from the National Association of Realtors indicates that the share of first-time home buyers in the United States has dropped to a record low of 21 percent. The decline is attributed to persistently high home prices and elevated interest rates, which are making homeownership increasingly difficult for many Americans.

The median price of a home in the U.S. has risen to $415,000, an increase of over 50 percent since 2019. As a result, many aspiring buyers are delaying major life decisions, and in some cities, sellers are reducing prices to attract buyers. Housing inventory is currently at a five-year high, offering some hope and leverage for those still searching for a home.

New report shows share of first-time home buyers dropped to record low

Tonight, new reporting on why the American dream feels increasingly out of reach. Home prices have skyrocketed for years, and the latest report from the National Association of Realtors shows the share of first-time homebuyers has dropped to 21 percent, a record low. CBS's Andres Gutierrez is in Burbank, California, with the rising costs of home ownership. Andres. Good evening, Jerrica. It comes down to high prices and high interest rates that are freezing out many Americans from buying their first home. How beautiful. So we've got the mid-century look here. Liv Raphael and her family are looking in Los Angeles for a new place to call home. How many bedrooms is it? Three bedrooms. But so far in their year-long search, everything is out of reach. We're paying $3,000 for rent when you could be paying that for mortgage. Buying a home has never been harder. The average first-time buyer is now 40 years old. And it's more expensive to own. Nationally, the median price of a home is $415,000, up more than 50 percent since 2019. Look at this. I know. That looks like it was just done. If you buy that average price home now, the payment is roughly $2,000 a month. When you pay it off in 30 years, it would have cost you about $657,000. Six years ago, you'd have paid $1,500 a month and about $563,000 total. If the rates do go down, you can always refinance later. The dream of owning a home is causing some Americans to rethink important milestones. A new survey by Coldwell Banker finds 71 percent of aspiring homeowners are postponing at least one life decision, like getting married, having kids, or making career moves until they can afford to buy a home. We're not quite ready to pull the trigger, so we're seeing a lot more days on the market. In many cities, like Austin, Miami, and L.A., sellers are cutting prices to move listings. We want to get a home, settle into our home. I grew in a house for 40 years. That's what I want for her. That's my name. My animal. Oh. There you go. Say bye now. Now, according to NerdWallet, housing inventory does remain at a five-year high, giving would-be buyers some leverage and some hope. Jerrika? Yeah. We could all use a lot of hope.

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