The first-time homebuyer in 2023 looks a little different than they did when baby boomers were buying their starter homes. Thanks to higher home prices and middling inventory, new owners tend to be older, earn more, and are likelier to be single or childless than in the past.
That’s according to the 2023 Profile of Home Buyers and Sellers, published by the National Association of Realtors (NAR) on Monday. NAR has put the report out annually since 1981; this year, it is based on responses from nearly 7,000 buyers who purchased a primary residence between July 2022 and June 2023.
