Real Estate
Homeowners Stay Put 12 Years, Stifling the US Housing Market
The typical American homeowner has stayed in their home for 12 years as of December, according to a new report.
Photographer: David Paul Morris/BloombergAmerican homeowners are staying put, a trend that’s helping drive home prices out of reach for many.
The typical homeowner has stayed in their home for 12 years as of December, almost double the median tenure of two decades ago, according to a new report from brokerage Redfin. Keeping owners in place are the high costs associated with borrowing and moving, as well as accumulated wealth in their existing homes.