Residential construction’s modest rebound is making the American housing stock age, the NAHB reports.
The median age of owner-occupied homes is 37 years old, compared to only 27 years old in 1993. In addition to demand for new construction, this trend also signals a growing market for home improvement professionals and remodelers.
Homes constructed after 2000 account for just 17 percent of owner-occupied homes, and newly built homes constructed after 2010 make up only 2 percent of the housing stock.