More first-time buyers are entering the market well into their late 30s—an age once considered late for homeownership. According to recent reports, the median age for first-time buyers has jumped to 38, up from 29 in the 1980s.
It’s a trend driven by steep home prices, limited inventory, and rising mortgage rates. Take Philadelphia and its surrounding suburbs—homes that sold for $200K just a few years ago are now nearing $500K, pushing even dual-income buyers out of the running.
In areas like the Main Line and Philadelphia’s competitive suburbs, bidding wars are common and fast—some listings receive three to four offers within days. And while inventory is increasing, affordability remains a major hurdle, especially for millennials who waited for market conditions to improve.
But here’s the reality: Waiting might not pay off.
Rates are holding steady above 7%, and home prices show no signs of dropping. If you’re financially ready, the best move may be to act now rather than risk an even tougher market next year.
Not sure if your credit or budget is ready? We’ve helped buyers across all stages navigate today’s landscape. Whether it’s your first home or your next move, we’ll help you make it happen.
👉 Contact us today to explore your options and get personalized guidance on buying in Philadelphia, the Main Line, or the Jersey Shore.
