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• First-time buyers accounted for just 22% of US home purchases, while their median age reached a record 40.
• A record 10% of first-time buyers paid in cash, with 28% of these buyers using an inheritance.
• Family loans and inherited assets are giving some buyers an advantage in an increasingly expensive housing market.

Buying a first home has traditionally been seen as a milestone reached through years of saving. But for an increasing number of Americans, getting on the property ladder is becoming less about putting money aside from a salary and more about whether family wealth can help bridge the gap.

First-time buyers accounted for just 22% of all US home purchases, close to a record low, according to the National Association of Realtors' (NAR) annual Profile of Home Buyers and Sellers. Their median age also reached a record 40, highlighting how long many people are waiting before they can afford to buy.