Last year, the average age of a first-time homebuyer in the U.S. was 38, compared to 35 in 2023, and 29 in 1981, according to the National Association of Realtors.
In Denver last year it was $1,300 a month cheaper to rent a home or apartment than it was to purchase a starter home, according to John Burns Real Estate & Consulting.
Homes are getting more expensive and new condos, which used to be a stepping stone for first-time homebuyers, are in short supply. The effect? Young homeowners are choosing the “exurbs.”
Remote work is also boosting the exurban trend. Although more employers are calling workers into the office more frequently, a long drive is more manageable if it is limited.
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📝: Aldo Svaldi, The Denver Post
📷: AAron Ontiveroz, The Denver Post // aaronontiveroz
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