A recent report from Redfin has revealed a striking trend in the U.S. housing market: Americans are purchasing older homes at a higher rate than ever before, largely due to a significant slowdown in new construction. The data shows that only 9 percent of homes in the United States were built in the 2010s, marking the lowest share for any decade since the 1940s. This scarcity of newer properties is pushing buyers toward aging housing stock, with many homes dating back several decades. The report highlights that the median age of homes purchased in 2024 was 43 years, a notable increase from just a decade ago when the median age was around 37 years. This shift is attributed to a combination of factors, including high construction costs, labor shortages, and zoning restrictions that have hampered new home development. In many metro areas, the inventory of homes built after 2010 remains critically low, forcing buyers to compete for older properties that often require renovations or updates. Redfin’s analysis also noted that in some regions, over 60 percent of homes for sale were built before 1980, underscacing the limited options for those seeking modern builds. Redfin senior economist Chen Zhao commented on the trend, stating, 'The lack of new construction over the past decade means that homebuyers have little choice but to turn to older homes. Many of these properties come with challenges like outdated infrastructure, but they’re often more affordable than the few new homes on the market.' This insight reflects a broader challenge in the housing sector, where affordability and availability continue to shape buyer behavior. As construction stalls persist, the reliance on older homes may further strain the market, potentially driving up costs for renovations and maintenance as demand grows.