Young adults in Wichita, Kansas, are finding it increasingly difficult to enter the housing market; first-time buyers have a median age of 40, matching last year’s record.
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Young Wichita residents told KWCH that home prices remain beyond their budgets, even when a household has two incomes. The National Association of Realtors named housing costs as the biggest hurdle for first-time buyers.
The median age was 54 among first-time buyers who paid in cash, a group that accounted for a record 10% of first-time purchases.
Kirk Short of Wichita Home Team argued that younger adults may prefer flexibility and mobility and choose to put down roots later in family life…