A "for sale" sign is posted in front of a home on July 09, 2026 in Los Angeles, Calif. A new report finds generational wealth is helping a record share of first-time homebuyers pay with all cash. Justin Sullivan/Getty Images hide caption

Justin Sullivan/Getty Images

The share of first-time homebuyers remains at a near-record low of 22% as a housing shortage and high prices sideline many, according to a new report by the National Association of Realtors. But those who are managing to buy are older and wealthier than in the past, and 1 in 10 paid all cash, a record high since such data was collected starting in 2003.

"Inheritances are really driving this," said Jessica Lautz, deputy chief economist at the NAR.

First-time buyers who paid all-cash were more likely than those who financed a house to use an inheritance (28%) or proceeds from the sale of an inherited property (21%). They were also older.

NAR finds the median age of all first-time buyers remains at 40, a record high.…