Retirees now lead the American housing market. According to the National Association of Realtors® (NAR) 2026 Profile of Home Buyers and Sellers, the median homebuyer is 58 years old, repeat buyers (median age 62) make up 78% of all purchases, and the median first-time buyer is 40. For South Florida, a region long popular with retirees and relocating families, these shifts shape how homes are priced, marketed, and sold.
Key Takeaways
- Median homebuyer age: 58, with growing activity among buyers over 60.
- Repeat buyers: 78% of purchases, median age 62.
- First-time buyers: 22% of purchases, about half the pre-2008 norm of 40%, median age 40.
- Multigenerational purchases: 14% of buyers bought a multigenerational home.
- Time in home before selling: 12 years, an all-time high.
- Agent use: 90% of buyers and 92% of sellers hired an agent or broker, both records.
Why Are Retirees Leading the Homebuying Market?
Affordability is the biggest barrier for younger buyers. NAR deputy chief economist and vice president of research Jessica Lautz says first-time buyers who save on their own contend with high rent, student debt, and a shortage of affordable homes. Meanwhile, older owners hold substantial equity from years of appreciation, which allows them to make large down payments or buy with cash.
Many of these owners are also benefiting from what Lautz calls the “golden handcuffs”: low-rate mortgages that encourage them to stay put longer. Owners who do sell tend to be well positioned for their next purchase, with large down payments or all-cash offers.
What Is the “Silver Tsunami” and Is It Here Yet?
The “silver tsunami” describes a potential surge of inventory as older Americans sell their homes or transfer wealth to the next generation. Bright MLS Chief Economist Lisa Sturtevant defines it as mortgage-free homeowners aged 70 and older listing their properties. About one in five homeowners is 70 or older, and about 45% are 60 or older.
The wave is not evenly distributed. Sturtevant found that most 70-plus homeowners are concentrated in more affordable Midwest metro areas, and she concluded that demographics alone will not solve the affordability challenge, though aging will reshape specific markets. A Realtor.com® analysis reached a similar conclusion: housing supply and demand are geographically mismatched, and larger family homes see more relief than starter homes.
Lautz says a full tsunami has not arrived, but generational wealth transfers are already visible in the data, and they are changing who buys a first home and when.
Why Are First-Time Buyers Older Than Ever?
First-time buyers represent just 22% of the market, and their median age of 40 is essentially unchanged from last year. One notable factor is a growing group of all-cash first-time buyers. Their median age is in the 50s, compared with 38 for first-time buyers who finance, and inheritance is playing a larger role. Because people are living longer, heirs often receive wealth in middle age rather than as young adults.
Other pathways into ownership are emerging too. The share of 25-to-34-year-olds living at home has risen from 9% in 1980 to 16.4% today, and the share of first-time buyers who purchased after living at home has grown from 12% in 1993 to 21%. Skipping market-rate rent helps these buyers save.
How Is Multigenerational Living Changing Buying Decisions?
Fourteen percent of buyers purchased a multigenerational home. NAR lists the top reasons as:
- Caring for aging parents (30%)
- Cost savings (23%)
- Adult children who never left home (19%)
- Adult children moving back home (18%)
Lautz also points to childcare costs as a rising factor, since an extra set of adult hands helps families with children under 18.
Why Are People Moving Now?
Moves driven by job or life-event necessity fell from 25% of buyers in 2000 to 5% in 2026. Moves to be closer to family and friends rose from 6% to 14% over the same period. These optional moves, led by retirees, mean more owners are settling in for longer. That also means fewer housing trades and less inventory freeing up for first-time buyers.
Do Buyers and Sellers Still Need an Agent?
Yes, and more people are choosing one. NAR found that 90% of buyers and 92% of sellers used an agent or broker in 2026, both record highs, while for-sale-by-owner transactions held at an all-time low of 5%. Lautz notes that every transaction is local and has its own complications, so guidance on purchasing, preparing a home for sale, and navigating unique circumstances is increasingly valuable.
What Does This Mean for South Florida Buyers and Sellers?
NAR’s figures are national, but the themes translate to South Florida’s market in practical ways:
- Sellers: Buyers with substantial equity or cash may be able to move quickly and offer flexible terms. Pricing, presentation, and timing still matter.
- Retiree buyers: Lifestyle-driven moves, such as being closer to family, favor homes that suit long-term living. Local guidance on neighborhoods, property types, and condition is essential.
- First-time buyers: Creative paths, including family support, multigenerational arrangements, and inheritance, can open doors. A knowledgeable agent can help structure the right strategy.
- Long-time owners: With the median owner staying 12 years, many homeowners hold significant equity. A market review can show what a move could look like today.
Frequently Asked Questions
What is the median age of a homebuyer in 2026?
The median age is 58, according to NAR. Repeat buyers are 62 and first-time buyers are 40.
What share of home purchases are made by first-time buyers?
First-time buyers make up 22% of purchases, about half the 40% norm seen before 2008.
What is the silver tsunami?
It is the potential wave of homes entering the market as older, often mortgage-free homeowners sell or pass property to heirs. Economists say the impact will be uneven by region and home type.
Are first-time buyers paying cash?
A growing share are. These all-cash first-time buyers tend to be in their 50s, and inheritance increasingly funds their purchases.
How many buyers and sellers use a real estate agent?
In 2026, 90% of buyers and 92% of sellers worked with an agent or broker, the highest shares NAR has recorded.
Summary
The 2026 housing market is defined by experienced, equity-rich buyers, older first-time buyers, longer homeownership, and increasingly personal reasons for moving. Whether you are a retiree ready for your next chapter, a first-time buyer finding a creative path to ownership, or a long-time owner curious about your home’s value, expert local guidance makes the difference. Contact Natasha at Live South Florida Realty, Inc. today, whether you are buying or selling a home in the South Florida area.
Sources: RISMedia, “Retirees Reign Over Homebuying as First-Timers Remain Older Than Historical Norms” (Claudia Larsen, Nov. 5, 2026); National Association of Realtors®, 2026 Profile of Home Buyers and Sellers. Statistics are national figures and may not reflect South Florida conditions. This article is for informational purposes and is not financial or legal advice.
