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,
Francis

Silicon Valley real estate specialist
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Californians on the move.

When Californians move, where do they go?

It turns out that when a Californian moves, he/she mostly stays in the same County (49%).

So most likely, when people move they just want to move up or move down.

4 years ago, a lot more people were going to an other state; possibly to deal more easily with the crisis, as the cost of living is so high here?  Once that wave happened, it seems that out-of-state moves settled around 20% of the movers.

Consistently, about 1% of the movers go outside of the US.  Funny to note that in 2009, at the worst time for real estate values, twice as many people left to go outside of the US.

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Thanks for reading,

Francis

Silicon Valley Real Estate

Local market trends

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Current Mortgage rates