The age for a typical first-time homebuyer hit 40 for the first time in long-term tracking by the National Association of Realtors. And the share of first-time buyers dropped to a record low of 21%.

The National Association of Realtors (NAR) reports that the typical age people purchase their first home in the U.S. has risen to an all-time high of 40 years old. First-time buyers represented only ...