What the 2025 NAR Home Buyers and Sellers Report Tells Us About the Market (and Why It’s Wild!)
Every year, the National Association of REALTORS® releases its big Profile of Home Buyers and Sellers report. It is the go-to study that reveals how real buyers and sellers are behaving in the current market. The 2025 edition, which covers July 2024 through June 2025, offers some fascinating insights into where things stand today.
So grab your coffee or maybe a mimosa and let’s break it down.
Inventory: Still Missing in Action
If you have been looking for a home lately, you already know how tough it is to find one. From mid-2024 through mid-2025, housing inventory stayed very low. When homes did hit the market, they often came with higher price tags that made it tough for many buyers to afford them.
Mortgage rates averaged around 6.69 percent during that time, which only added to the challenge. As a result, many first-time buyers decided to sit on the sidelines while current homeowners watched their home values continue to grow.
First-Time Buyers: An Endangered Species
Only 21 percent of buyers this year were first-timers, the lowest share ever recorded. Before 2008, that number was closer to 40 percent.
The median age of first-time buyers is now 40 years old, compared to the late 20s in the 1980s. Between student loans, high rent, and limited affordable housing, younger buyers are facing major obstacles.
Those who do manage to buy are relying on personal savings, which make up 59 percent of down payments, or on financial assets, which account for 26 percent. Gifts or loans from relatives are becoming less common than in past years.
Repeat Buyers: Older, Wiser, and Wealthier
Repeat buyers, on the other hand, are in a much stronger position. They have more equity, larger down payments, and often pay in cash.
The median down payment for repeat buyers was 23 percent, and 30 percent of them paid the full amount upfront. The average repeat buyer is now 62 years old, the highest age ever recorded. Many are buying homes to be closer to family and friends, which was the top reason for moving this year.
Meanwhile, proximity to one’s job is becoming less of a priority, dropping to 31 percent compared to 52 percent in 2014. Buyers are focusing more on neighborhood quality and lifestyle than on commute times.
Home Buyer Makeup: Fewer Kids, More Singles
The profile of the typical buyer is also changing. Sixty-one percent of buyers are married couples, 21 percent are single women, and 9 percent are single men. Among first-time buyers, single women lead at 25 percent, while single men make up 10 percent.
The share of buyers with children under 18 has dropped to an all-time low of 24 percent. This shift is likely influenced by lower birth rates, higher home prices, and the rising age of repeat buyers. Childcare costs also continue to make saving for a down payment more difficult for many families.
Agents Still Rule the Game
If you have ever wondered whether you really need a REALTOR®, the data makes it clear.
Eighty-eight percent of buyers and 91 percent of sellers worked with an agent or broker this year. Only 5 percent sold their home on their own, the lowest share of For Sale By Owner transactions on record.
Buyers and sellers value expert guidance for pricing, marketing, negotiations, and all the paperwork that comes with a real estate transaction. Technology is helpful, but it cannot replace the experience and local insight of a trusted professional.
The Search: Still a Challenge, But Worth It
The average buyer spent about 10 weeks searching for a home, which is the same as last year. With limited inventory, the hardest part of the process remains finding the right home.
Even with the challenges, 92 percent of buyers said they were satisfied with the overall buying experience. That shows that while the process can be competitive, the end result is worth it.
What It All Means
We are in a market where experienced, equity-rich homeowners are leading the way, while first-time buyers are finding it harder to get in.
Still, with the right plan, solid representation, and a bit of patience, opportunities are out there for everyone.
If you have been thinking about buying, selling, or just want to understand where you fit in today’s market, let’s talk. I can help you make sense of these trends and find the best way forward in 2025’s ever-changing real estate world.
