The homes Americans are buying are older than ever

☀️ Good morning! Today, we're looking at the homes Americans are buying, a bill on property ownership, and the Homes.com Boost listing tool.

Today's newsletter is 694 words — a 2.5-minute read.

1. The homes Americans are buying are older than ever

According to an analysis by Redfin, the median age of homes bought reached a record 36 years in 2024, a significant increase from 27 years in 2012.

The report, which analyzed MLS data on homes purchased between 2012 and 2024, indicates that the aging is consistent across all housing types.

• Condominiums have aged the most, with their median age increasing to 38 years in 2024 from 26 years in 2012. The median age for single-family homes rose to 36 years, and townhouses increased to 23 years.

Only 9% of existing homes were built in the 2010s, the lowest share since the 1940s.

2. A bill banning some citizens from owning property passes the Texas House

The Texas House passed a bill Friday that would prohibit the sale of Texas “real property” to entities from China, Russia, Iran, and North Korea, all of which are considered national security threats by the federal government.

The bill, known as Senate Bill 17, would also give authority to Gov. Greg Abbott to add other nations to the ban.

The bill now returns to the Senate to consider changes made in the House approval process. If passed, it would go into effect Sept. 1 and only apply to transactions after that date.

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3. Catch up quick

😊 First draft of tax reform bill "very positive" for real estate. (NAR)

🤝 The U.S. and China have agreed to slash tariffs on each other for 90 days. (Reuters)

🏞️ A 26,000-acre ranch in Langtry has hit the market for $44 million. (Chron)

🏡 The median homeowner now lives in their home for 11.8 years. (ResiClub)

📉 Demand for vacation homes hits six-year low. (Redfin)

🛏️ Fun read: San Antonio’s Hotel Emma has been named one of TripAdvisor’s best hotels. (TripAdvisor)

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4. Newly built home prices are falling

In March, the median sales price for new homes dipped below that of existing homes, as buyers increasingly gravitated toward more affordable inventory.

According to Realtor.com, the median list price for a newly-built home in Q1 2025 was $448,393, down 0.3% YOY and 1.3% from two years ago. Meanwhile, existing-home list prices have continued rising, with the median list price hitting $394,963, up 1.4% YOY and up 5.1% from two years ago.

Among the top metros where newly-built home prices have fallen the most, Austin ranks third nationwide and top in Texas.

5. Homes.com will promote listings banned by Zillow

In an interview with Inman, CoStar CEO Andy Florance announced that the company will now offer free “Boosts” to listings that have been blacklisted by Zillow under its new private listing policy.

The move, rolled out with Homes.com’s new Boost tool on April 29, is aimed at supporting agents and homeowners whose listings were removed from Zillow for non-compliance with the portal’s stricter MLS rules.

Homes.com Boost enables listing brokers and homeowners to increase marketing visibility for a single listing for a one-time fee of $260, according to the company.

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