Sometimes we hear in the real estate industry that buyers prefer modern homes over older ones. The reasons seem obvious;
- modern layouts and styles
- latest technologies
- energy efficient
- less maintenance
- and more …
However, RealtyTrac data shows that older homes still make up the majority of homes sold. In some markets, homes built prior to 1940 are worth more on average than newer homes as well. In 2013, 60% of sales represented homes built before 1990. Why is that? The biggest reason is that an even greater majority of the total homes in the US are older – 70% built before 1990.
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