How Long Do Most Families Live In A House

Dated: 07/10/2018

Views: 25

Image title

How Long Do Most Families Live in a House?

   For Sellers, Housing Market Updates, Move-Up Buyers

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving.

As the graph below shows, over the last twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2014, that average is almost ten years – an increase of almost 50%.

Image title

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

With home prices rising dramatically over the last several years, 95.3% of homes with a mortgage are now in a positive equity situationaccording to CoreLogic.

With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light by NAR in their 2018 Home Buyer and Seller Generational Trends Report. According to the report,

“Sellers 37 years and younger stayed in their home for six years…”

These homeowners, who are either looking for more space to accommodate their growing families or for better school districts to do the same, are likely to move more often (compared to typical sellers who stayed in their homes for 10 years). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; they could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family.

These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge in the current housing market, this could be great news.



Blog author image

Charles Juarez

With my expertise in realty for both buying or selling a home in San Antonio, and surrounding areas. You have found the right resource for your real estate needs. Whether you are looking for a new hom....

Latest Blog Posts

What You Need To Know About The Mortgage Process

What You Need to Know About the Mortgage Process [INFOGRAPH]Buying Myths,Down Payments,First Time Home Buyers,For Buyers,Infographics,Move-Up BuyersSome Highlights: Many buyers are purchasing

Read More

14 Hacks You Can Do Now To Make House Cleaning Go Faster

14 Hacks You Can Do Now to Make House Cleaning Go Faster Like rubber gloves for pet hair. Works like a magnet.Image: kjnnt/GettyIt’s the little things that get you every time. And that goes for

Read More

9 Irritating Things About Summer Heat And How To Nix Them

9 Irritating Things About Summer Heat (and How to Nix Them) Like bugs. And leggy flowers. And sky-high energy bills.Image: Malte Mueller/fStop/Offset SHARE THIS Email This Pin This Tweet

Read More

What Makes A Room A Bedroom

What Makes a Room a Bedroom?July 17, 2018 | TAR Staff Does That Count as a Bedroom?There’s no single legal definition for a bedroom in Texas. The International Residential Code (IRC), published

Read More