More older homes are selling in the D.C. area than nationally
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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.