According to the latest data from the 2015 American Community Survey (ACS), the median age of owner-occupied homes is 37 years. The age of housing stock is not evenly distributed across the United States. Among the states, New York has the oldest homes with a median age of 57 years old, followed by Massachusetts at 53 years. The median age of homes in the District of Columbia, which is entirely urban, is 75 years. The newest homes are in the West. The median age of homes in Nevada is only 20 years, followed by Arizona where half of all owner-occupied homes were built in the last 24 years ago.
The geographic distribution of the age of the owner-occupied housing stock is strongly correlated with population changes from 2000 to 2015. The population changes, including both natural growth and net migration, signal the rising demand for housing. States with faster population growth tend to have newer housing stock.
The age of the housing stock is an important remodeling market indicator. Older houses are less energy-efficient than new construction and ultimately will require remodeling and renovation in the future.
read more…
http://eyeonhousing.org/2017/01/age-of-housing-stock-by-state/
This post was last modified on %s = human-readable time difference 1:24 pm
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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