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Real Estate's New Normal: Homeowners Staying Put

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jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Good article by the NY Times in the money section today, very appropriate for the period we see on a daily basis in most parts of the country.
Take a read and see what you think.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
NYT keeps telling me I need to subscribe to read their articles.
I could wait, and read them a few days later, when they're suitable for lining birdcage, or wrapping fish.
Bottom line: I've stopped reading their stuff.

NYT motto:
All the News that fits (our viewpoint) we print.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
Latest Study Shows Average Buyer Expected to Stay in a Home 13 Years published by the NAHB in ... January 2013

According to the US Census American Housing Survey trhu 2011 the typical median homeownership tenure since 1987 in the use has ranged between 10 to 20 years with the trough occurring in 2005 during the market run up and the peak in 2009 during the market collapse. Typical rates over the long term have been about 11 to 14 years.

Shocking headlines are only reporting more of a return to normal long term historical trends.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Wouldn't have anything to do with locking them into 2% interest rates on their mortgages during the refi boom?

:whistle:
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
Wouldn't have anything to do with locking them into 2% interest rates on their mortgages during the refi boom?
If you are referring to the increase in tenure during the decline, the answer would be no
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
...
According to the US Census American Housing Survey trhu 2011 the typical median homeownership tenure since 1987 in the use has ranged between 10 to 20 years....
Interesting, when I sold property, they quoted us 7 years as the typical period.
But, that was pre-1987.

.
 

Nancy Heiss

Junior Member
Joined
May 9, 2006
Professional Status
Certified Residential Appraiser
State
California
Interesting, when I sold property, they quoted us 7 years as the typical period.
But, that was pre-1987.

.

I did some research in the past few months, and I found 7 years to be the average as well. At least, that's what was reported in the majority of websites I checked.
 
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