Older, equity-rich buyers dominate as newcomers struggle to enter the market
First-time homebuyers in Texas accounted for just 21% of all home purchases in 2025, barely above the all-time low of 20% recorded the year before, according to the 2026 Texas Homebuyers and Sellers Report released Friday by Texas Realtors.
The report, derived from the National Association of Realtors’ Profile of Home Buyers and Sellers survey covering transactions between July 2024 and June 2025, paints a picture of a housing market increasingly shaped by older, wealthier, and more experienced buyers—leaving newer entrants with fewer footholds.
Buyers are getting older
The median age of all Texas homebuyers held steady at 58 in 2025, matching the all-time high set in 2024 and approaching the national record of 59. For context, the median age of US buyers was just 31 in 1981, according to the report.
Married couples made up the largest share of buyers at 68%, followed by single women at 18% and single men at 7%. Senior housing accounted for 7% of purchases, while 14% of homes were bought for multigenerational families.
Jennifer Wauhob, chairman of Texas Realtors, said the figures reflect a divide between those who entered the market during the pandemic and those who did not.
“Today’s first-time buyers were not in the housing market during the pandemic years of low mortgage rates and quick home value increases, which may leave some of them feeling a step behind,” Wauhob said. “Meanwhile, homeowners who built up some equity may be able to sell and make a substantial down payment on another home.”
Cash sales hit a record
The share of all-cash home purchases reached a record high of 30% in 2025, more than double the 14% recorded in 2017, the report said. Among those who used financing, 63% opted for fixed-rate mortgages, with conventional loans making up 56% of that group.
Most buyers (79%) said they believe homeownership remains a sound long-term financial investment, and 35% said it outperforms stocks.
Sellers slash prices repeatedly
On the selling side, the market proved far less forgiving. Nearly three-quarters of sellers (74%) reduced their asking price two or more times before closing a deal, a sharp increase of 53 percentage points from the previous year. An additional 18% cut their price at least once.
The report also noted that 22% of homes sat on the market for 13 weeks or more, while 37% of sellers opted to sell their homes as is—a sign of a cooling market where patience and pricing flexibility became increasingly necessary.
Wauhob pointed to mismatched expectations as a key factor driving the trend.
“Nationally, the length of time sellers have stayed in their homes before selling is at an all-time high of 11 years, but listings have increased dramatically in the recent past,” Wauhob said. “Expectations can be out of date on both sides of the deal, so often there’s a sorting-out process.”
Satisfaction remains high
Despite the challenging conditions, satisfaction with the buying and selling process remained strong. According to the report, 93% of buyers and 91% of sellers said they were satisfied with their respective experiences—the latter figure up 5 percentage points from 2024.
Agent loyalty also stayed high, with 90% of buyers and 87% of sellers saying they would definitely or probably use the same agent again. Most buyers (79%) and sellers (70%) interviewed only one agent before committing.
