flexiblefullpage - default
interstitial1 - interstitial
Currently Reading

Large Stock of Aging Homes Signals Remodeling Growth

billboard -

Large Stock of Aging Homes Signals Remodeling Growth

The majority of US housing stock was built before 1969

By NAHB Remodelers March 22, 2023
housing stock
Photo: alenamozhjer | stock.adobe.com
This article first appeared in the March/April 2023 issue of Pro Remodeler.

It’s no secret that new home production is not keeping pace with demand. One consequence of this shortfall is an aging housing stock that presents growing opportunities for residential remodelers.

Since the Great Recession, U.S. owner-occupied housing stock has been aging rapidly as the number of new homes built each year falls short of demand created by population growth and associated new household formations. That aging housing stock signals a growing remodeling market, as older homes need contemporary amenities as well as updated appliances and other components.

The median age of owner-occupied homes is 40 years, according to the latest data from the 2021 American Community Survey. A little less than half of the owner-occupied homes were built before 1980, with around 35% built before 1970. New construction added nearly 8.3 million units to the national stock from 2010 to 2021, accounting for only 10% of owner-occupied housing stock in 2021.

New home production has been slow to return to pre-recession norms. As a result, the share of new construction built within the past 11 years declined greatly, from 17% in 2011 to only 10% in 2021.  


remodeling stock data


Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and email addresses turn into links automatically.
  • Lines and paragraphs break automatically.

Related Stories

NAHB Remodeler of the Year: Robert Greaves

By prioritizing employees, customers, and community, People Come First Construction Group rises to the top of the remodeling ranks

Leading with HEART: A Remodeler's Book on Leadership, Company Values

F.H. Perry Builder Owner Allison Iantosca shares the experience of writing a book based on her company's values

New York Bans Gas in New Builds

The most recent regulation toward electrification comes from New York

Remodeler Market Sentiment Edges Up Despite Challenges

Market continues to grow, but slower than 2022 

How Do ChatGPT and Remodeling Go Together?

How are real-world remodelers using AI—and how are we?

Two Leading Women in Construction Events Unite

Join us for the Women in Residential + Commercial Construction Conference in Nashville, October 25-27, 2023. 

Study Finds Remodelers’ Net Profits Declined

How far did net profits decline and what's influencing the drop?

Software Company to Award $150,000 to Home Service Company Owners

The grant program is intended to help strengthen small businesses

Builders Focus on Remodeling as New Construction Declines

Some builders hope to benefit from remodeling's strength, giving a slight boost to new construction confidence

A Lesson in Mentorship: Emma Wilson's Carpentry Journey

Combining passion with mentorship created a career in carpentry that this 19-year-old foreman never expected

boombox1 -
native1 -

More in Category

native2 -
halfpage1 -