Data: Redfin analysis of Census Bureau data; Chart: Jacque Schrag/Axios Visuals
Nearly 60% of homes that sold in the D.C. metro area last year were 30+ years old — suggesting the region needs more new housing.
Why it matters: A major construction slowdown "has fast-tracked the aging of America's housing stock," Redfin says in a new report.
By the numbers: In 2024, 59% of homes sold were 30 years old or older, while 12% were under five years old.
Those numbers trend a few percentage points better nationally (see the chart above).
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.
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.