Denver homebuying has changed over the decades.

The face of homeownership in our metro area is changing, just as it is shifting throughout the nation. According to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers, today’s homebuyers are older, more likely to be single, and increasingly female.

In 1973:

• 73% of homebuyers were married couples
• 11% were single women
• 10% were single men

By 2024, those numbers had shifted dramatically:

• 62% of buyers were married couples,
• 20% were single women (the highest share ever recorded)
• 8% were single men

I don't think what's happened in Denver homebuying is a surprise.

As a native, I've seen significant social and economic changes in my community. And in many ways, Denver homebuying has made excellent progress. For example, women are achieving higher education levels and income, which empowers them to choose financial independence through homeownership. In the 70s, women couldn’t get a mortgage without a co-signer (a big salute to the Equal Credit Opportunity Act of 1974).

We also have to address the median age of homebuyers - it has risen sharply.

The average buyer

• 2024: 56 years old
• 2023: 49 years old

The average first-time buyers

• 2024: 38 years old (representing just 24% of all home purchases)

This is the lowest level since tracking began in 1981.

But for Denver homebuying, rising home prices and limited affordability remain major hurdles. The median home in the metro Denver area now costs around $590,000, pricing many potential buyers out of the market. Millennials, in particular, are struggling — only 21% who took NAR's survey believed their generation can afford a home.

Still, experts agree: the desire for homeownership remains strong. Whether you are motivated to own for independence, security, or stability, I am helping buyers who are redefining what the American Dream looks like — one closing at a time. Let's discuss your goals, options, and even if you're not ready to make a move, we can start checking out homes so you can start strategizing.

Source: bizjournals.com