The face of new homebuyers has gradually changed. According to a new study by the National Association of Realtors reported by the Dallas Morning News, the number of first-time homebuyers across the country has significantly declined, from 40 percent to just 34 percent. Texas had an even worse decline, with only 30 percent of homebuyers in the first-time buyer category. This represents a dramatic shift from the historic ability to find affordable real estate in Texas. 

High levels of student debt and increasing home prices were cited as likely reasons that people in the first-time buyer category are choosing to delay purchasing a home. The current percentage of sales to first-time buyers is near a record low. 

The market has also been more difficult for first-time buyers to enter. Restrictions on lending requirements after the recession have also made it more challenging for first-time buyers to meet the criteria to obtain a mortgage.

Inventory shortages at the lower end of the price spectrum have also crowded out many first-time buyers. This problem has been especially pronounced in North Texas, where the median home price has risen to a record $246,000 and fewer than 20 percent of the homes for sale are below the median price, according to the Dallas Morning News.

In addition to an inventory shortage of lower-priced houses, real estate in Dallas and Fort Worth often sells for the asking price or even above.

The average student loan debt amount has also risen from $26,000 to $29,000, the National Association of Realtors reports, further putting a squeeze on individuals who would otherwise be interested in purchasing a first home.