Provo leads the U.S. with newest homes

• For the same time period, the median for a home purchased in Salt Lake City was 29 years old.

Zoom out: The median U.S. home bought last year was 36 years old — the oldest since at least 2012, per Redfin.

• Buffalo, New York, had the oldest homes on the market, with a median age of 69.

The big picture: Utah County's rapid population growth, the fastest in the state, is fueling a housing construction boom.

• Plus, newer homes tend to require less maintenance and fewer repairs, making them an attractive investment.

Reality check: The U.S. hasn't built enough new homes to meet demand, 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.

What's next: 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.