Most homes bought last year in Atlanta were built in the 1990s

More than a third of homes sold in metro Atlanta last year were built in the previous century, according to Redfin.

Why it matters: A major construction slowdown "has fast-tracked the aging of America's housing stock," the real estate site reports.

By the numbers: In 2024, 38% of homes that were sold last year were more than 30 years old.

• That's followed by 21% of homes less than five years old, 20% of homes that were 21 to 30 years old, 14% that were 11 to 20 years old and 7% that were 5 to 10 years old.
• The median age of Atlanta homes purchased last year was 24 years old, Redfin reports.

The fine print: The median price of Atlanta homes more than 30 years old was $335,000, compared to $444,990 for homes less than five years old.

Zoom out: In 2024, roughly 55% of U.S. homes sold were 30 years old or older, while 17% were under five years old.

• The median age of U.S. home purchased last year was 36 years old.

Reality check: It's not that most buyers want older houses, which often come with dated infrastructure and higher upkeep. The U.S. hasn't built enough new ones, experts say.

• Just 9% of homes were built in the 2010s, after the global financial crisis — the smallest share for any decade since the 1940s, per Redfin.

The big picture: The number of homes built this decade is projected to remain historically low, even after construction picked up during the pandemic, particularly in the Sun Belt and Mountain West regions.

What's next: Older homes are usually cheaper, though research shows the discount is shrinking as builders offer lower prices and other perks.

• New builds have been costing less per square foot than existing houses in a dozen major metros, according to Zillow.