Older homeowners are quietly sitting on a bigger and bigger slice of the nation’s housing wealth, and Jacksonville buyers are feeling it every time a starter home hits the market. Fresh analysis shows people age 70 and older now hold a large share of U.S. property equity, while younger would-be homeowners battle higher prices, heavy debt and a chronic shortage of entry-level listings. Local agents say Florida’s retirement-heavy profile cranks up the pressure, making starter homes especially scarce in Northeast Florida.
According to a Redfin analysis of Federal Reserve data, Americans age 70 and older held roughly 26% of the country’s $48 trillion in real estate wealth as of the third quarter of 2025, or about $12.5 trillion in housing equity. That share matched or slightly surpassed the 40-to-54 age group for the first time on record. Redfin attributes the shift to decades of home price gains combined with long stretches of low mortgage rates. Chief Economist Daryl Fairweather noted that the mix of past rate declines and steady price growth made it far easier for older homeowners to build equity than it is for buyers today.
The National Association of REALTORS® 2025 Profile found that the median age of first-time buyers has climbed to 40 and the share of first-time buyers has fallen to a record low of 21%, signaling deep and persistent affordability barriers, according to NAR. The group warns that delayed homeownership can translate into tens of thousands of dollars in lost equity over a lifetime and is urging policies to unlock more supply, including easing zoning and permitting and nudging owners to sell underused properties. Those dynamics help explain why repeat buyers who already have equity are increasingly able to outbid younger buyers with smaller down payments…