First-time homebuyers accounted for 49% of purchase mortgage originations in 2025, down from 56% in 2022, with median purchase prices rising from $314,000 to $345,741 and median incomes from $61,728 to $77,208. Down payments remained around 5%, and median age stayed at 33. Repeat buyers made up 51%, buying more expensive homes with higher incomes and down payments near 15%. Affordability challenges persist, but demand remains strong.