Monday, October 28, 2013

How long to own a home?

Most people don't buy or sell a home very often. 
In fact, a recent National Association of Realtors® study found the median length of time that people who sold a home in 2012 had owned that residence was nine years, two years longer than the proverbial seven-year time frame. 
What's more, recent buyers had even longer time horizons in mind: first-time purchasers expected to own their newly bought home a median of 10 years. For repeat buyers, the median was 15 years. 
Sure, many people move more frequently, often due to the birth of a child, marriage or divorce, job loss or relocation, retirement, someone passing away, or other major life event. Yet there's still no doubt that a move is pretty hard on anyone… and avoided if possible.

How long have you owned your home in average?

Thanks for reading,

Silicon Valley real estate specialist
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