Staying Put: Homeowners Statistically Staying Longer
Looking to stay, or looking to move?
For many homeowners, staying put is what’s ideal.
In 2020, the average homeowner had been in their home for 13 years – which is up from 8.7 years in 2010 and 6.4 years in 2005. But a record of 25.1% of U.S. homeowners have lived in the same home for more than 20 years.
So, why aren’t homeowners moving?
There seems to be a few factors:
- Some homeowners are reluctant to home shop during the pandemic
- Other homeowners are hesitant to enter into the market, which is currently very competitive
- Older homeowners are weary to enter into a senior-living facility home amidst the COVID-19 pandemic
Will 2021 increase these stats? Or will long-term homeowners begin the move? Only time will tell!
For more real estate news, stop by Alliance Title’s Blog!
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