Homebuyers are getting older as young Americans are being 'pushed out' of the real estate market — here's what stops them from bridging the gap

The NAR also reports the median age of first-time buyers is 35 years old, while the median age of repeat buyers is 58 years old.

"We're talking about a different profile of homebuyer today," Jessica Lautz, NAR deputy chief economist, told Axios, indicating buyers are both older and wealthier in today’s market.

"It's very difficult to enter into the home buying market unless you can pull from financial assets or perhaps the Bank of Mom and Dad, which is not available to every American.”

Here’s why it’s so hard for younger generations to become homeowners today — and how you can still invest in real estate without purchasing an entire property.

It's still expensive to buy a home

Young Americans — especially first-time homebuyers — are facing major financial headwinds at the moment that are impeding their foray into real estate.

For one, the cost of borrowing remains high, as mortgage rates hover around the 7% mark.

Meanwhile, sellers are reluctant to relinquish the low rates they locked into in previous years, which has tightened supply.

Those with higher incomes also seem to have an edge. The NAR reports the median household income of homebuyers has surged to $107,000, up a record 22% from the previous year.

To make matters worse, young Americans are grappling with inflated everyday prices and hefty student loan payments.

"We are pushing out anyone who may be looking for an affordable property," Lautz told Axios.

As a result, it’s folks with more cash on hand or those who have built equity through previous home purchases, when prices and interest rates were lower, that can afford to buy in the current market.

This is a group that tends to skew older, since one typically accumulates more wealth over time.