>>The Average U.S. Homebuyer Now A Decade Older Than The 1980s
(Charlotte, NC) -- Recent data showing a shift in age of those becoming first time home owners in Virginia. Katie Gray reports.Preview: SCRIPT:
The typical first-time homebuyer is now 38 years old, nearly a decade older than in the 1980s, with experts attributing the change to high prices and mortgage rates. It now takes six-figure incomes to afford a home, and bidding wars are driving up prices. Trade wars and high interest rates are exacerbating the situation, with mortgage rates above 7%. Experts tell WCNC they warn that waiting to buy a home could have long-term financial impacts, so some advise not to delay, even in a tough market.