The National Association of REALTORS® just dropped the 2025 Profile of Home Buyers and Sellers, and the data paints a clear picture: the real estate market is split between equity-rich repeat buyers and cash-strapped first-timers. Here's the full breakdown, what it means, and how to act on it.

Major Findings & Trends

NAR’s 2025 Profile fast facts show:

• First-time buyers: Only 21% of buyers—a historic low. Median age is 40 (highest ever).

• Repeat buyers: Now ~79% of all buyers, median age is 62.

• All-cash purchases: At record highs (~26% of home sales).

• Median down payments: 10% for first-timers (highest since 1989), 23% for repeat buyers.

• Household composition: Only 24% of buyers have children under 18. Multi-generational purchases dropped to 14% (from 17%).

Market Context

• Inventory remains tight.

• Mortgage rates hover around 6.7%.

• Limited supply + high prices = fewer first-time buyers and more cash buyers.

First-Time Buyers

• Median age: 40

• Share: 21%

• Barriers: affordability, rent, student debt, credit cards

• Down payment: 10%

• Funding sources: personal savings (59%), financial assets (26%)

Repeat Buyers

• Share: 79%

• Median age: 62

• Down payment: 23%

• 30% pay all cash

• Most move for family or retirement

Household Composition

• 61% married couples

• 21% single women buyers

• 24% have children under 18

• 14% bought multigenerational homes (mainly for elder care or savings)

Sellers

• Median time in home before selling: 11 years (record)

• Move distance: ~30 miles

• Next homes: 50% buy newer homes, 34% go bigger

• 91% used agents; only 5% sold FSBO

Use of Agents

• 88% of buyers used an agent

• Top buyer needs: finding the right home (50%), negotiating (13%)

• 91% of sellers used agents, citing pricing and marketing as top needs

Buyer TypeShareMedian AgeDown PaymentAll-CashWith Kids (<18)First-time21%4010%Low32%Repeat79%6223%30%22%All buyers100%59 avg.~19% est.26%24%

Strategic Insights

For Real Estate Agents

• Educate on financing: Focus on savings (59%) and investments (26%). Show how to use 401(k)s, IRAs, or gift funds.

• Inventory skills: Only 21% of buyers are first-timers. Use MLS alerts, social tools, pocket listings. Median search takes 10 weeks.

• Negotiate and lead: 90%+ use agents. Teach price negotiation, contract structuring.

• Connect with older first-timers: Median age is 40. Highlight retirement, long-term benefits. 32% have kids.

• Explain agent value vs. FSBO: Only 5% go FSBO. 60% of those already knew their buyer. FSBOs sell for less. Make the case for your full-service value.

For Brokerages

• Train smarter: Emphasize inventory sourcing and handling high down-payment offers.

• Support first-time buyers: Offer or partner on down payment programs. Host workshops.

• Promote agent ROI to sellers: FSBO is at 5%. Agents help with marketing, pricing, timing.

• Target older buyers: Focus marketing on empty-nesters and retirees with equity.

• Upgrade your tech: Virtual tours, digital CRMs, and smart alerts speed up the sales cycle.

For Investors

• Prepare for all-cash competition: 26% of buyers are all-cash. Stay sharp with capital or lending partners.

• Expect longer holds: Median tenure is now 11 years. Focus on renovation plays or secondary markets.

• Watch shifting demand: Fewer families, more singles and retirees. Rethink rental and development strategies.

• Monitor incentives and distress: Builders are offering rate buydowns. High rates may push some listings onto the market.

Housing Policy Implications

• Affordability is key: 21% first-time buyers is unsustainable. We need zoning reform, supply, and starter homes.

• Down-payment help: 10% down is a stretch. Push grants, tax credits, and flexible loans.

• Rental support: Rent is a savings killer. More rental supply and tenant support frees up future buyers.

• Multigenerational incentives: Only 14% are buying this way. Tax credits for in-law suites or ADUs could help.

• Serve aging homeowners: Median buyer age is 62. Offer downsizing tax breaks, reverse mortgage education.

• Level the playing field: Expand access to credit counseling and enforce fair lending rules.

Training Takeaways for Agents

• Talk down payment reality. Help clients explore savings, retirement funds, employer help.

• Prepare for older, more selective first-time buyers.

• Use the low FSBO rate to show why agents matter.

• Master negotiation. 13% of buyers want it. Practice it.

• Ask buyers what matters most in neighborhoods. School quality, walkability, and proximity to family top the list.

• Help manage expectations. Long mortgage lock-ins mean less turnover.

Need help making sense of it all?

Whether you're an agent, buyer, seller or investor—I'm here to help.

Schedule a consult or learn more at darylwizinsky.com

Sources:

• https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers

• https://www.nar.realtor/newsroom/first-time-home-buyer-share-falls-to-historic-low-of-21-median-age-rises-to-40

• https://www.nar.realtor/blogs/economists-outlook/top-10-takeaways-from-nars-2025-profile-of-home-buyers-and-sellers