Younger Americans continue to see their share of the country's real estate wealth shrink, while the oldest Americans have seen their portion grow, new industry data shows.

Americans 70 years or older held 26% of the United States' $48 trillion in real estate wealth in the third quarter of last year, slightly less than the second quarter's 26.1%, the highest share on record, according to Redfin. That's significantly higher than 21.6% a decade ago and 16.6% two decades prior.

The share of real estate wealth held by those 70 years or older surpassed Americans aged 40 to 54 for the first time on record during the second quarter, when 40- to 54-year-olds held 25.9%. Both groups held 26% in the third quarter, but that's down from 29.3% a decade earlier for 40- to 54-year-olds, the report found.

The 70-plus age group is the only one that has experienced consistent wealth gains over the past few years. The 55-69 age group saw their share drop to 35.3% from 37.2% over the last decade, while the share held by the youngest Americans has remained relatively flat, increasing to 12.6% from 11.9%, according to the report.

Younger Americans are also buying real estate later because they're getting married later, the report said.

"Breaking into homeownership wasn't an easy feat for baby boomers, who faced high inflation and high interest rates. But mortgage rates then entered a decades-long decline, fueling years of home price growth that benefited baby boomers," said Redfin Chief Economist Daryl Fairweather in a press release Monday. "Those home price gains, along with a rebound in mortgage rates in recent years, have pushed homeownership out of reach for many younger Americans."

While home-price growth has slowed, prices remain historically high. The annual home-price growth rate hit 18.73% in 2021, yet fell to 0.74% in 2025, according to Intercontinental Exchange's Home Price Index..

The 30-year fixed-rate mortgage also pushed past 7% last year, but declined to 6.56% by the end of the third quarter and 6.11% last week, according to Freddie Mac.

Redfin predicted mortgage rates would drop to the low-6% range and income growth would outpace home-price growth this year, but the Iran war has added complications to an otherwise positive trend.