The median age of homes purchased nationwide reached a record high of 36 years in 2024, a significant jump from 27 years in 2012, according to an analysis released Monday by Redfin.
The trend reflects a long-term slowdown in new home construction and growing affordability challenges. Buyers are increasingly turning to older properties, often out of necessity rather than preference.
If someone had told me that home sales would remain firm this year despite mortgage rates ranging from 7.25% to 6.64%, I would not have taken that bet. However, amid all the chaotic economic headlines of 2025 so far, the demand for mortgages is holding steady, even with the higher rates.
Let’s dig into the latest Housing Market Tracker data to see what last week brought us.
Following the revelation this week that Republican lawmakers in the House of Representatives added an amendment to a bill that would authorize the sale of thousands of acres of federal land in Nevada and Utah, a Democratic senator has called foul on the nature of the effort.
Another jobs week has come and gone, and while we see some signs of a slowdown in the labor market, it’s not breaking. Since 2022, I have suggested that to get mortgage rates below 6% with a longer duration, we need to see either a shift in the labor market or additional rate cuts that would lower the Fed Funds rate to around 3.5% or below.
Florida’s housing markets were as hot as any after the COVID-19 pandemic began, but now they’re among the coldest.
Stubbornly high mortgage rates, rapidly rising inventory and macroeconomic headwinds are impacting housing markets all over the country, but Florida is notable for both how far it’s fallen and how much it’s slumping.