How Long do we Stay in our Homes?

How Long Do We Stay in Our Homes?

A question I get from time to time; “How long do people usually stay in their home?” Well, here’s the answer. Just take a look at this chart compiled year by year by NAR, the National Association of Realtors. From 1985 to 2008 the average time between moves was 6 years. From 2009 to 2024 it increased to over 9 years. What happened?  

What Happened that extended the time between real estate moves?

Well, it’s not from just one thing but from a combination of things:

Remote work - More remote work opportunities allow people to stay in one place longer rather than moving for job changes.

Housing Market Trends -  higher interest rates, higher home prices and lower inventory can make it more difficult to get to the next home. I know a lot of people that would like to move but are afraid to sell and not be able to find something suitable at a fair price in time. 

We are getting older - As a society we are living longer and many are not as eager to sell the family home and head to retirement communities as prior generations were. 

Renting - Some people are renting longer due to affordability challenges in the housing market, while others stay in their owned homes longer because of favorable mortgage rates

Family & Lifestyle Choices – People are prioritizing stability for their families, keeping children in the same schools, or living closer to family for support. Each year I hear this a lot, ‘We want to move to be closer to family.

Your ‘right time’ might be two years or 30. I’m always available to discuss options. Sometimes staying works out to be the best plan!