Why is the number of first-time US homebuyers at a generational low?

Young Americans are holding off on buying a home, with the average age in 2024 being a record high of 38

A cornerstone of the American dream is drifting out of reach.

The estimated number of first-time homebuyers in the US dropped to a little more than 1.1 million in 2024, according to data from the National Association of Realtors shared with the Guardian: the lowest level since the NAR started tracking new buyers, in 1989.