Older buyers are prevailing in America’s hot housing market, with the median age for a repeat buyer being 58, according to the National Association of Realtors.
For the last 36 years, Rick and Laura Zinnick had a life in Nevada. But when their son and grandchildren decided to relocate to Oklahoma City, the Zinnicks decided to follow them, putting their four-bedroom house on one-third of an acre up for sale. The decision worked out well. That house sold for $480,000, giving the Zinnicks a windfall. They found a more manageable, one-story home in Oklahoma. The housing market recession is already ending.
The Zinnicks aren’t alone: Older buyers are prevailing in America’s hot housing market. This year, the median age for a repeat buyer — someone who has bought a home before — was 58, according to the National Association of Realtors. That’s down just a smidgen from last year’s record of 59, but it’s edging out younger buyers who are struggling to get into the market for the first time
Housing Market Older Buyers Repeat Buyers Median Age National Association Of Realtors
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