Posted To: MND NewsWire

The age of the U.S. housing stock is, to a certain extent, a reflection of the decline in new home construction since the onset of the housing crisis. However, Na Zhao, in a blog post in the National Association of Home Builders’ (NAHB’s) Eye on Housing blog, relates housing ages to recent population growth and says it is also an important indicator for the remodeling market and represents an investment opportunity for homeowners. Zhao analyzed the data from the most recent (2019) American Community Survey (ACS) from the U.S. Census Bureau and found the median age of owner-occupied homes nationwide was 39 years. This age varies considerably by state. The oldest homes are found in the Northeast, with New York containing the oldest owner-occupied homes at a median age of 60 years. Massachusetts…(read more)

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Source: Mortgage News Daily