JACKSON, Mich. (WILX) - First-time homebuyers are now older than ever. According to a report from the National Association of Realtors, the median age of a first-time homebuyer reached 40 years old.

Susie Mohlman, an Associate Broker at Sproat Realty Professionals and the current President of the Jackson Area Association of Realtors, says she’s “not sure there could be a positive in that.”

“We just recently had an age of 34 years old, so it is increasing fast, and I think a lot of that is just the combination of our sale prices right now and our interest rates,” Mohlman said.

She says it could be corrected rather “quickly” if interest rates go down, “because that makes all the difference in what they can afford. It’s about affordability.”

Many of the first-time buyers Mohlman speaks wi

See Full Page