The share of first-time homebuyers is down in Texas, according to Texas REALTORS®. The association’s 2023 Texas Homebuyers and Sellers Report reveals first-time homebuyers made up less than a quarter of all buyers during the time period from July 2021 to June 2022. That’s down from 32% a year ago 39% a decade ago.

Instead, home purchases were more prevalent among those aged 55 and older. Those in that age range made up 52% of all home purchases, while people aged 25 to 34 made up 14%. The median homebuyer age was 56.

The median income for Texas homebuyers also rose to $110,000 — $22,000 higher than the national median.

And when it comes to sellers, Texas REALTORS® found that the main reason Texans sold their homes last year was to be closer to family or friends (23%). Job relocation and retirement were also cause for a lot of home sales (13% and 10%, respectively). Additionally, 70% of homes sold from the market without undergoing price reductions.