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!
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