01/29

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.

That’s 1 in 4 homes.

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!