BY Melissa Eichman Tampa | Spectrum News
PINELLAS COUNTY, Fla. — The National Association of Realtors reports the average age of first-time homebuyers is at an all-time high at age 40. The association also says the share of first-time homebuyers has hit a historic low of 21%.
Twenty-year-old Christina Copelan is bucking that national trend. She bought her Clearwater home a few months ago when she was 19.
“It feels really great, like, I am very proud of myself,” said Copelan.
Graduating from high school at age 15, she said becoming a homeowner was an early goal. She works as a personal assistant for a property manager and a financial services company and started saving soon after graduation.
“The biggest thing was living at home with my parents. I think because I didn’t have many bills. But yeah, really, really saving and being super frugal,” said Copelan, who was able to close on her home in a couple of years. She and her family are now renovating it themselves.
“Instead of just buying it and living in it. I get to, you know, put something into it instead of just occupying it,” said Copelan, who enjoys adding her personal touch.
She is not the norm, according to recent numbers released from the National Association of Realtors.
The association adds that the all-time high age of 40 for first-time homebuyers can create a trickle-down effect on personal finances.
“Delayed or denied homeownership until age 40 instead of 30 can mean losing roughly $150,000 in equity on a typical starter home,” said Shannon McGahn, NAR Executive Vice President and Chief Advocacy Officer.
Liane Jamason has been in real estate for 18 years and has responded to the shift.
“I think it’s because we’re having some affordability problems and also interest rates being a little bit higher may have skewed that number a little bit,” said Jamason.
The broker owns Corcoran Dwellings in St. Petersburg, and while she acknowledges the national trend, she said that she and her agents are seeing a different trend in local first-time buyers.
“We’re seeing really closer to low twenties to low thirties here,” said Jamason.
“I mean it’s a young vibe here and especially in downtown St Pete, so I think people love that and really want to get in while they can.”
And with a market Jamason describes as steady, buyers of all ages are aiming to get closer to closing on a home of their own.
“It’s very it’s very cool to tell other people like my age that is possible,” said Copelan, who is also a landlord and rents the other half of her duplex. She hopes to inspire the younger generation of future homeowners.