First-time homebuyers remain scarce, but a record share of them pay all cash

The real estate market continues to show a growing divide, with fewer first-time buyers entering the housing market, yet an increasing number of those who do manage to buy are doing so entirely in cash. This trend suggests that generational wealth is playing a bigger role in home ownership, leaving many others without the financial means to purchase. The median age of first-time buyers remains high, indicating that younger people are facing significant hurdles in becoming homeowners. This shift has broader implications for economic mobility and the overall housing market's health.