Friday, November 1, 2013

RealtyTrac™ Reports 71 Percent of Single Family Homes Built Before 1990; Older Housing Stock Represents Less Competition, Lower Prices

  


IRVINE, Calif. –  RealtyTrac™ (www.realtytrac.com), the nation’s leading source for comprehensive real estate data, today released its Aging Homes Analysis, which shows that more than 70 percent of the U.S. single family homes were built before 1990 while 60 percent of 2013 sales year-to-date were for homes built before 1990. 

Jake Adger
“The high percentage of homes that are at least 20 years old and likely in need of some major repairs is eye-opening,” said Jake Adger, chief economist at RealtyTrac.

“However, given the low inventory of homes available for sale in today’s market, this challenge of aging U.S. housing supply can also be an opportunity for buyers looking for a bargain and homeowners looking to update their living space and improve the value of their homes.”

 For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
949.502.8300, ext. 139

Brittney Marin
949.502.8300, ext. 107

Data and Report Licensing:
800.462.5193

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