Federal student loan payments were paused for three and a half years.

For graduates who attended public schools, the average federal student loan debt at graduation seems to be around $25K... which worked out to be a student loan payment of $280 per month.

3.5 years = 42 months

$280 x 42 = $11,760

Recent grads with average student loan debt, with average student loan payments, would have been able to save up about $12,000 over the past three and a half years when federal loan payments were paused.

Did this pause in payments on student loans allow some would-be home buyers to build up savings to put towards a downpayment or closing costs for a home purchase?  Quite possibly.

There seem to be many reasons why we saw a surge in home buying activity over the past few years...

1.  Covid-induced changes to work / life / home situations.

2.  Super duper low mortgage interest rates.

...and maybe...

3.  College graduates building up savings due to not needing to make student loan payments for a few years.

But, back to reality, student loan payments have started back up again now.  So if you were building up some savings with those (non)payments -- you'll now need to divert those monthly funds back towards paying off your student loans.