There's a new sign of how much the housing market has changed.

Americans are buying later, buying bigger, and trying to buy just once.

I'm Kathy Fedke, and this is Real Estate News for investors.

This is Real Estate News with Kathy Fedke.

According to the latest BMO Real Financial Progress Index, many buyers are now skipping the

starter home and aiming straight for a forever home.

The survey found Americans now expect to be 40 years old when they buy their first home.

Back in the early 90s, the average first-time buyer was just 28. That tells you how much affordability

is changed over time. Even with rates lower than last year, many buyers are still waiting. More than

half say they want borrowing costs to fall further before making a move. Only 14% of non-homeowners

say they plan to buy within the next year.

And here's what matters for investors. Today's buyers want homes that can do more than one job.

Many younger homeowners want space for aging parents, adult children, or future caregiving needs.

Others want room to create rental income through an

ADU, short-term rental, or long-term tenant. That means flexible floor plans may command a premium.

Homes with guest suites, finished basements, detached garages, home offices, or income-producing

layouts could see stronger demand.

The report also found many younger buyers are willing to move further out for affordability.

Some would accept a one-hour commute. Others would relocate entirely if remote work allows it.

That could continue to support growth in secondary and lower-cost markets.

Another trend worth watching, nearly half of prospective buyers would consider purchasing with friends or family.

That could reshape demand for multi-generational homes and properties with separate living areas.

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