Percentage of first-time buyers sinks to record low

For the third year in a row, the percent of first-time homebuyers in the pool of all 2015 buyers decreased to a historical low number, according to The National Association of Realtors.

In 2012, the percent of first-time homebuyers was 39 percent of all buyers and in 2015 it was down again to just 32 percent. In the western region of the United States, it was as low as 26 percent and highest in the Northeast region at 46 percent.

The median age has held steady at 31 years for five years in a row since 2011. Millennials aged 25-34 years have made up the largest share of first-timers at approximately 50-60 percent in the last decade. In 2015, Millennials accounted for 58 percent of first-time homebuyers compared to 50 percent ten years earlier in 2005. Repeat buyers were spread evenly at 20 percent in most age groups.

Buyer demographics also saw huge differences between household compositions for first-time buyers. Unmarried couples made up the largest first-timers at 57 percent compared to married couples who accounted for only 27 percent. Both single males and single females accounted for 39 percent of first-time homebuyers as well, well above the 31 percent of all buyers.