What seem to be scary numbers in the housing industry have prompted action.
The median age of a first-time homebuyer hit a record 40 years old nationwide last year, the National Association of Realtors recently reported. That’s two years older than in 2024 and up substantially from 33 years old in 2019.
Market analysts cite higher home prices, lower inventory and sustained elevated mortgage rates for squeezing out younger would-be homeowners. But the American dream of homeownership hasn’t evaporated entirely.
Many residential developers and builders have gotten more creative in a push to save money on the back end to lower costs for buyers on the front end…