A new survey found that the average age for a first-time home buyer in the United States is 38. That is significantly older than previous generations.
Monday on the "Sound of Ideas," we take a look at the housing market, where rising prices, limited inventory and competitive offers have turned home buying into a stressful and often overwhelming experience for many Northeast Ohio residents.
In May 2025, Cleveland home prices were up almost 7% compared to last year, selling for a median price of $140,000 according to Redfin. Despite this upward trend, Cleveland's median sale price is nearly 70% lower than the national average.
With these trends in mind, many residents are asking: Is now the right time to buy a home? And how do I make a financially smart move in a market that is constantly shifting?
Guests:
- Michelle Jarboe, Reporter, News 5 Cleveland
- Lucy Loper, Real Estate Agent, Howard Hanna
- Ron Cheung, Professor of Economics, Oberlin College and Conservatory
