In just one year, the profile of the typical Texas homebuyer changed dramatically as home prices and mortgage rates soared. They became much older, and minority groups took a smaller share of the market.
From July 2021 to June 2022, the median age of Texas homebuyers was 56, according to new research from Texas Realtors derived from a National Association of Realtors survey. That’s almost nine years older than the typical buyer from just a year before, who was 47.
During the same period, the share of first-time buyers in the market dropped from 32% to 24%. Texas Realtors cites higher mortgage rates and housing affordability as drivers of that trend. A decade before, 39% of Texas buyers were first-timers.
