Homeownership divides widen as older, wealthier buyers dominate 2026 market

The 2026 “Profile of Home Buyers and Sellers” from the National Association of Realtors paints a housing market increasingly split between older, equity-rich owners and younger households still locked out by high costs. The report, based on buyers and sellers who closed between July 2025 and June 2026, shows that inventory began to loosen but remained largely unaffordable for households earning under $75,000. Mortgage rates averaged 6.33% during the period, dipping below 6% briefly in early 2026 before climbing again, which gave first-time buyers only a short-lived affordability window. Older repeat buyers are driving the market The typical homebuyer is 58, just under last year’s record of 59. Repeat buyers are even older, with a median age of 62, and they bring substantial equity and income to the table. Their median household income rose to $127,000 from $111,700, and 30% of repeat buyers paid all cash for their home. Many of these buyers are using long-held equity to fund moves driven by lifestyle choices rather than employment. The top reason for moving among repeat buyers is proximity to friends and family, and the plurality of sellers moved into larger homes, while nearly hal...