(CNN)– The age of a first-time home buyer is the oldest it has ever been.

The median age is now 40 years old.

The National Association of Realtors also says the share of first-time buyers in the market has fallen to 21%, a record low.

That group of buyers has contracted by 50% since 2007, just before the great recession.

The NAR says its research reveals two evolving snapshots of the housing market.

One group of buyers has significant housing equity and can make big down payments.

See Full Page