BY BRAD BECKETT ON OCTOBER 12, 2022
A recent “chart of the week” from the Mortgage Bankers Association illustrates the current stock of occupied homes in the U.S. by the decade built and by building type. Click here to read more.
Basically, it shows that America’s housing stock is steadily aging with the median age of occupied housing stock in 2021 being 42 years.
“…the lack of new construction over the last decade. Coupled with the disruptions from the pandemic and strong housing demand from the millennial cohort, the U.S. housing market is structurally low on supply…we expect this chronic lack of inventory will be a factor in housing markets for some time.”