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Which Cities Have the Most New (or Old) Homes on the Market?

Don't look to New York or Houston for that fixer-upper.

House-hunting is all about giving here, taking there and hopefully finding something that works for you — while some dream about that fixer-upper, others want a new house that will not require a lot of maintenance or repairs.

The types of homes you'll find are, in no small part, determined by what part of the country you call home. While early American cities like Philadelphia and Boston have thousands of homes that were built in different centuries on the market, places like Texas and Los Angeles have a lot of new construction on the market.

Analysts at real estate platform Point2Homes recently crunched the numbers and found that old homes make up more than half of for-sale real estate in 17 of the country's biggest cities.

By contrast, homes that were built less than 10 years ago take up more than 30% of the market in many Southern and Texan cities. Nationwide, 40% of today's homes were built before 1970.

"While there's no definite correlation between price and building age to back up this preference, some sources attribute selling costs up to 30% lower for old homes as opposed to newer ones, whereas others claim Americans pay vast amounts of money for frequently unsafe housing precisely because of that age-old charm," reads the report.

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Where Should I Go If I Want Old?

Detroit, Baltimore and Milwaukee are the cities with the highest rates of for-sale homes that are more than 50 years old — a respective 92%, 83% and 76% means that you'd be hard-pressed to find much built in the 21st century on the market.

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"Although New York City didn’t make the top half of the list according to shares of old inventory for sale (58%), it actually has the largest number of pre-1970 homes on the market with a cool 16,500," reads the report. "In this regard, NYC is followed by Chicago with 6,100 homes built more than 50 years ago, which represents 51% of its current for-sale stock."

Where Should I Go If I Want New?

By contrast, El Paso, Texas, takes the lead as the city with the highest percentage of new homes on the market — a decade of construction to keep up with strong population growth now place the number of for-sale homes built after 2012 at 51%. 

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While Oklahoma City and San Antonio are close behind at a respective 47% and 42%, no other American city has more than 50% of homes built in the last decade on the market.

Out of the 20 American cities with the most new homes on the market, six are in Texas where, apparently, both the homes and the need for them is bigger. While Seattle also has a high 33% of new homes on the market, the South generally dominates this list — Nashville, Tenn.; Jacksonville, Fla., and Charlotte, N.C., are all front-runners.

Meanwhile, older American cities like Philadelphia, New York and Boston have higher numbers of older homes in large part because colonization and that initial "building boon" happened earlier than in the South and West.

"Nowadays, the Lone Star State tops the list of just about anything construction-related, from the highest employment levels in the field (about 104,000 construction professionals) to one of the most active development markets in the country — both residential and commercial," reads the report.