Summary
Homeowners in the U.S. are staying in their houses longer than ever, reaching an average of 8.6 years by the end of 2025. This is due to low mortgage rates, high home prices, and less availability of homes for sale.
Key Facts
- Homeowners are staying in their homes for an average of 8.6 years, the longest in at least 25 years.
- The average homeownership duration in early 2000 was 4.2 years.
- Homeowners in coastal and Northeast U.S. cities tend to keep their houses longer than those in Sun Belt and Midwest areas.
- Barnstable, Springfield, and New Haven have the highest average tenure, over 13 years.
- Cities like Provo, Crestview, and Oklahoma City have the shortest homeownership durations, around 7 years.
- The trend of how long people own homes has been consistent in areas with historically long or short tenure periods.
- Recently, more U.S. homeowners now have mortgage rates over 6% compared to those with rates under 3%.
