Houses Get Older

The aging of the baby boomer generation may be mirrored by the aging of America’s housing stock. The U.S. Department of Housing and Urban Development’s American Housing Survey finds that the median age of an owner-occupied home in the United States was 35 years old in 2011. This was up from the median home age of 23 years in 1985.

More than 40 percent of the owner-occupies homes in the United States were built before 1969. Homes built from 2000 through 2009 account for only 15 percent of the owner-occupied housing stock.

Aging homes could prove to be a boon for home remodeling businesses. Older homes tend to be less energy-efficient than new homes and generally require more repairs.

Source: The Residential Specialist (March/April 2014)