Since the Great Recession, Americans have been staying in their homes on average about 60 percent longer.
Of course, real estate agents don’t make any money unless people buy and sell houses, so the longer tenure of today’s homeowners is on their worry list.
In Texas and surrounding states, people who bought homes this year say they expect to stay put by a median of 15 years.
That’s higher than the current national home tenure of about 10 years.
And that national rate is inflated, too. Traditionally, homeowners moved every six years or so.
“Sellers are staying in their homes for long periods,” Lawrence Yun, chief economist with the National Association of Realtors, told thousands of real estate agents meeting in Florida this weekend.
During the recession, many homeowners stayed put because they owed too much on their properties or couldn’t sell for enough of a profit to make a move attractive. Read More >