According to Rentcafe, more than 500,000 new units of apartments were completed throughout the United States last year. All that construction can help explain a trend: the medium year in which the house stock was built in most cities is advancing, according to a Propertyshark report.
The researchers analyzed the data of the United States Census Office in cities and cities with at least 25,000 residents, then classified the 1,839 places according to the changes in the year of average construction of their homes from 2013 to 2023. In 86 percent of these cities and towns, the year of medium construction advanced.
In 2013, the typical American house had been built in 1976. By 2023, it had been built in 1980, which means that the median year of construction advanced for four years, according to the report. The new construction was stimulated by the “housing scarcity, population growth and migration trends” to the largest cities and the states of the sun belt.
The cities with the greatest changes in the year of medium construction were Williston, ND and Farmers Branch, Texas (a suburb of Dallas), 25 years each. The report indicates that the population in Williston “increased by more than half, while the number of houses almost doubled”, the result of an oil boom in the late 2000s that attracted billions of dollars in new investments.
The next five locations on the list were in New York and New Jersey. In New York, the greatest changes were in the cities of the Hudson Valley and Finger Lakes region: Middletown, Monsey and Ithaca. In New Jersey, they were in New York City Satellites of Fast Development: Hoboken, where the median year built advanced for 19 years, and Jersey City, for 18 years.
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