How Long Do Most Families Stay in Their Home?

How Long Do Most Families Stay in Their Home? | Simplifying The Market

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

How Long Do Most Families Stay in Their Home? | Simplifying The Market

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

With home prices rising dramatically over the last several years, 93.7% of homes with a mortgage are now in a positive equity situation with 79.1% of them having at least 20% equity, according to CoreLogic.

With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light during a recent presentation by Lawrence Yun, the Chief Economist of NAR, at the Realtor’s Summit in San Diego, CA. Yun pointed to the fact that historically, young homeowners who were either looking for more space to accommodate their growing family or looking for a better school district were more likely to move more often (every 5 years). The homeownership rate among young families, however, has still not caught up to previous generations resulting in the jump we have seen in median tenure!

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstances. They could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple planning to start a family that currently lives in a one-bedroom condo.

These homeowners are ready to make a move. Since the lack of housing inventory is a major challenge in the current housing market, this could be great news for sellers.  Give me a call to find out what your home is worth – J.P. Cook – 602-320-4253.

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3720 E Boot Track Trail Gilbert, AZ 85296

$1,755,000
4 Beds
3.5 Baths
3,557 SqFt
Status Active
MLS # 6686515
Property Type Single Family Residence
Price Type --
Freshly painted and ready for a new owner! Stroll down the tree lined streets to discover unparalleled luxury in this magnificent Toll Brother's estate nestled in Lakeview Trails at Morrison Ranch. This freshly painted, single story, highly updated home showcases soaring ceilings and exquisite finishes throughout. Paid off solar and soft water system are an added bonus for the energy conscious buyer! The chef's kitchen is a culinary masterpiece, featuring top-of-the-line Wolf appliances, Sub-Zero custom cabinetry refrigerator, wine display and a spacious layout that is perfect for entertaining. Retract your oversized sliders to step outside to your own private oasis, complete with a swim-up sunken bar, hot tub, Infrared dry sauna, outdoor shower and a meticulously landscaped backyard that is an entertainer's delight on a premium lot that backs to a walking trail, with no neighbors behind. The RV gate adds convenience and functionality to this already stunning property. Live the resort lifestyle in this remarkable home, where every detail has been carefully curated for the discerning buyer. Now is the ultimate chance to experience the epitome of luxury living TODAY!

36001 N 17th Avenue Phoenix, AZ 85086

$1,753,744
5 Beds
5.5 Baths
4,549 SqFt
Status Active
MLS # 6676761
Property Type Single Family Residence
Price Type --
TO BE BUILT: Amazing modern contemporary house nestled at the base of a majestic mountain and the Sonoran Preserve. This home features 5 bedrooms, 5.5 bathrooms, with soaring 12 foot ceilings throughout the open floor-plan. Gourmet kitchen features top of the line appliances, huge center island, and walk-in butler;'s pantry. Split floor plan with. an incredible primary suite with. large soaking tub, walk in steam shower, and expansive his/her closets. This side also has an additional ensuite bedroom and home office. The other side has 1 additional ensuite bedroom with hidden door. Expansive patio leads to fully loaded pool house adjacent to detached casita. Home has 3 car, extra deep garage, mudroom entry from garage, and large laundry room. Situated on just over 1 acre.

Range 1 W Six Claims Road Prescott, AZ 86305

$1,750,000
3 Beds
3 Baths
2,881 SqFt
Status Active
MLS # 6774984
Property Type Single Family Residence
Price Type --
MOUNTAIN MODERN RANCH - LOCATED WITHIN THE NATIONAL FOREST ..... yet ON PRIVATE LAND, w/GATED COMMUNITY. NO HOA. This exquisite modern ranch-style masterpiece is soon to be built on top a premium 5 or 10+ acre lot; nestled amidst the serene Boulders - natural trees, ensuring privacy and tranquility for its owner. The Buyer will have the opportunity to handpick every finish, thanks to the generous Allowance package added, ensuring a truly personalized living experience that perfectly matches your unique style. This beautifully maintained - yet unique property will appeal to the discriminating buyer who values maximum privacy with upscale and uncomplicated taste! Just 12 minutes to Prescott's Town Center.

9594 E Tee Box Court Gold Canyon, AZ 85118

$1,750,000
4 Beds
3.5 Baths
2,781 SqFt
Status Active
MLS # 6730390
Property Type Single Family Residence
Price Type --
Beautiful new custom home located in Gold Canyon East at Barkley Ranch backing Golf Course on the 10th Green of the Dinosaur Course. Incredible elevated unobstructed expansive views of the golf course. Can clearly see 4 Golf fairways on one of the most beautiful Golf courses in Arizona. Exceptional Superstition Mountain views. Fantastic finishes and details in the cabinetry, wood flooring, wood boxed beams on ceiling, marble tiled master bath, firepit and built in barbecue. The home surrounds a resort style pool with tiled Baja shelf and spa, stone finished columns with copper scuppers pouring waterfalls into the pool. Travertine pavered patios and pool deck with synthetic grass and firepit inside the fenced yard overlooking the 10th green of the golf course across the pool.

17411 E Fort Verde Road Rio Verde, AZ 85263

$1,750,000
3 Beds
3.5 Baths
3,290 SqFt
Status Active
MLS # 6781858
Property Type Single Family Residence
Price Type --
Welcome to the Carina floorplan in Trilogy at Verde River, nestled on a premium lot set back behind the golf course along the natural desert, providing ultimate privacy and an unbeatable Four Peaks mountain view! This stunning home spans over 3,290sq ft and exudes luxury from every corner, offering 3 bedrooms, a den, 3.5 bathrooms, and a spacious 3-car garage. You will be captivated by the impeccable design—neutral wall tones, elegant plank-wood style tile floors, electric shades, and soaring ceilings set the stage. The great room features a floor-to-ceiling fireplace, custom beamed ceilings, and a 20' multi-panel slider that seamlessly merges indoor and outdoor living. Enjoy a dream kitchen with glass-stacked lighted cabinets, a stylish tile backsplash, GE Monogram appliances, double ovens, a wine refrigerator, walk-in pantry, and beautiful pendant lighting. The primary suite is a true retreat, complete with a lavish ensuite that includes a soaking tub, walk-in shower, and custom walk-in closet. Each additional bedroom also has a private ensuite. A unique feature of this home is the fully gated courtyard, accessible from multiple rooms, including the den, office, primary suite, and main living area, creating a private outdoor area within. Outside, the backyard is an entertainer's paradise with a sparkling heated pool, elevated spa with a stunning mountain view, built-in BBQ, and a cozy wrap around patio featuring a custom-built fireplaceperfect for relaxing. Additional upgrades include surround sound in the great room and patio, central vacuum, an extended 2-foot garage, and built-in cabinets in both garages. This home is truly a rare find, do not miss your chance to view! The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. This home is truly a rare find, do not miss your chance to view!

5250 E Deer Valley Drive Unit 206 Phoenix, AZ 85054

$1,750,000
2 Beds
2.5 Baths
1,781 SqFt
Status Active
MLS # 6762671
Property Type Apartment
Price Type --
The embodiment of sophisticated design, modern comfort and luxury living, this luxury condominium at The Luxe emphasizes spaciousness and an effortless connection to resort style living. The 2-bedroom former-model residence has been designed with careful attention to detail and craftsmanship evident in every corner including wide plank baseboards, wide plank wood flooring, quartz counters, custom chandeliers and lighting, floor-to-ceiling marble tile surround gas fireplace, custom wall finishes and electronic horizontal window blinds. Whether you're an avid cook or simply enjoy entertaining, the gourmet kitchen will inspire. As functional as it is beautiful, the high-end kitchen centers around a large quartz waterfall island with undermount lighting, wine cooler and seating. Abundant cabinets are framed by custom glass tile backsplash, quartz counters and premium stainless steel appliances including Wolf double ovens, drawer microwave, gas range with hood, and SubZero refrigerator. A formal dining area adjacent to the kitchen creates the perfect ambiance for hosting dinner parties or intimate family gatherings. Soaring ceilings and large 4-panel patio door floods the open concept interior with abundant natural light, opening to an expansive 1200 square foot outdoor living space including covered patio, multiple lounging areas, built-in Coyote barbeque with vent hood, custom lighting and quartz counter. The only patio of this size in the community, the versatile space is a seamless expansion of the interior, allowing for a truly dynamic lifestyle. Located in the main building of the community, world-class amenities designed to enhance your lifestyle are just steps away. Whether you prefer relaxing by the Olympic-sized pool surrounded by lush landscaping, exercising in a state-of-the-art 4000 square foot fitness center with infrared sauna, enjoying movie night in the multi-seat movie room, or partaking in community events, everything you need to rejuvenate body and mind is at your fingertips. Upscale shopping, dining and Mayo are just minutes from the community, with easy access to freeways and championship golf courses. Not to be overlooked, this guard gated residence is made complete with 2 personal underground parking bays and private storage room. For buyers looking for an exceptional property in one of North Phoenix's most desirable locations, this beautiful residence offers the ultimate in sophistication and convenience for full-time or seasonal escapes. Come enjoy some of the very best Arizona has to offer.

6711 E Camelback Road Unit 61 Scottsdale, AZ 85251

$1,750,000
3 Beds
2 Baths
2,236 SqFt
Status Active
MLS # 6752393
Property Type Townhouse
Price Type --
Discover the epitome of luxury living in this beautifully appointed home located in the exclusive Pavoreal gated community in Scottsdale. Featuring modern finishes and soaring high ceilings, this residence offers a perfect blend of elegance and comfort. The backyard boasts brand-new landscaping, providing an ideal space for outdoor entertaining or simply relaxing in privacy. Situated within walking distance to Scottsdale's premier shopping and dining destinations, this home offers the convenience of urban living while maintaining a tranquil, private atmosphere. Don't miss this opportunity to experience this exceptional property in one of Scottsdale's most sought-after communities.

10275 E Winter Sun Drive Scottsdale, AZ 85262

$1,750,000
4 Beds
4 Baths
3,952 SqFt
Status Active
MLS # 6766921
Property Type Single Family Residence
Price Type --
Beautiful corner lot with a very peaceful magical garden. where you can enjoy the AZ sunsets. Highly upgraded home built around a huge courtyard. Very private setting with several outdoor living areas. Courtyard has a large ramada, and firepit. The 4,000 sq ft home features 4 bedrooms, 3 1/2 bathrooms, including a mastersuite with fireplace and his and hers closets. Wonderful kitchen with beautiful granite SS appliances, gas cooktop, warming drawer. Open to the oversized greatroom. The livingroom features a fireplace and wetbar off the diningroom. There is also a bonus/gameroom with sliders out to the courtyard. The backyard was created for entertaining and relaxing. In addition to the pool with a water feature, BBQ, fireplace, and pergola.

9445 E Quail Trail Carefree, AZ 85377

$1,750,000
3 Beds
2.5 Baths
3,977 SqFt
Status Active
MLS # 6772648
Property Type Single Family Residence
Price Type --
Welcome to Quail Trail Haven: Where nature meets serenity! Escape to your private desert oasis. This stunning single-level home offers the perfect blend of luxury & tranquility. With 3 bedrooms, 2.5 baths, & an open-concept floor plan, Quail Trail Haven is ideal for entertaining or star gazing. Enjoy the newly remodeled kitchen, sparkling saltwater pool, hot tub & multiple fireplaces while soaking in the serene desert views. The expansive primary suite is a true retreat, complete with a sitting room, fireplace, & spa-like bath. Additional features include NEW Anderson windows, a flex room(perfect for a workshop/3rd car garage),& breathtaking desert landscaping. Whether you want to relax in your backyard or explore nearby hiking trails and trendy restaurants. Quail Trail Haven is living!

30 Sycamore Canyon Road Sedona, AZ 86336

$1,750,000
3 Beds
3 Baths
2,323 SqFt
Status Active
MLS # 6770114
Property Type Single Family Residence
Price Type --
Live in Luxury w/ NO HOA & enjoy 180 Degree UNBLOCKABLE PANORAMIC VIEWS of Sedona'a Majestic Red Rocks. Use as a secondary or primary residence & STR when not in use. 2024 Upgraded Chef's Dream Kitchen offering massive island/ Wolf Oven & Steam Oven/ Induction Cooktop/ 2 wine fridges and Butlers' Pantry to Die For, Great Room Living, 572 sq ft Terrace Featuring Hot Tub & Electronic Sun Shade, ELEVATOR to access both floors, Primary Suite featuring Spa Bath/ Steam Shower & 3 Way Fireplace. Spacious 2nd & 3rd Bdrms w/ full bath for guests to visit. Step out to the south 966 sq ft sun deck for privacy or meander out to the terraced landscaping and listen to the water feature. The Oversized 2 car garage has plenty of storage. Once You Enter You Won't Want to Leave! 2023 HVAC's, Other upgrades in 2023: remote window shades in the kitchen, Instant hot water, Reverse Osmosis w/Whole House Water Treatment System, Dual Zone A/C, soft water spigot for car washing, Western Decorative Security Door & Emergency Access Fire Dept Key Box at Front Entrance. STUNNING Chef's Kitchen boasts polished granite island with built-in GE Monogram Induction Cooktop, built in Sharp Microwave and storage beneath. Gorgeous Taj Mahal Quartzite Counters with full textured tile backsplash make this kitchen a gathering magnet with upgraded appliances including Wolf Oven and Wolf Steam Oven, Oversized dual faucet Farmhouse Sink, Bosch Dishwasher, Samsung side by side fridge, and dual mini wine/beverage fridges. Enjoy casual island dining with guests while admiring the custom metalwork chandelier above and views of nature to the South & Red Rock Show to the North. Multiple options to dine both inside at the island or formal dining area OR take the entertaining outside on th 572 sq ft terrace with huge retractable awning when shade is desired. In the evenings enjoy stargazing from the hot tub or on the south deck around a firepit table. Plenty of Alder soft-close upper and lower cabinetry, PLUS spacious walk-in Butler's Pantry with granite counters, beverage and coffee stations and Iron metal door to access your south deck. Huge and Lavish Primary Bedroom Suite invites you to pamper yourself in luxury. Plenty of space with dual vanities and large walk-in closet. Relax in the jetted tub while reading a book next to the three-sided fireplace. The walk-in STEAM SHOWER is stunning featuring four complimentary tile designs, dual shower heads and wand and spacious bench. Even the shower has views!! Enjoy coffee in bed with the best views in Sedona or stroll out onto the terrace through the glass slider. Guests can enjoy privacy and comfort on the lower level in the two spacious bedrooms with walk-in closets and shared full bath. The larger bedroom can also be an office with enough space for gym equipment or full on media room. The exterior of this home is as amazing as the interior. Paver walkways and shimmering tiled stairs adorn the front entrance. Transport yourself through the red rock portal and hike up to the picnic table in the back yard or meditate on the stone bench while listening to the sound of the trickling water feature. All surrounded by mature native tree provided shade and privacy. When it's time to dine outside, BBQ in Style on South Trex Deck w/ Shade provided by the towering native evergreens.

8 Biltmore Estate Unit 301 Phoenix, AZ 85016

$1,750,000
3 Beds
2.5 Baths
3,080 SqFt
Status Active
MLS # 6777233
Property Type Apartment
Price Type --
Luxury third-floor penthouse at Fairway Lodge on the Adobe Golf Course at the historic Arizona Biltmore Resort! The open great room flows into a gourmet kitchen with SubZero and Wolf appliances, wine fridge, and custom cabinetry. The spacious master retreat offers floor-to-ceiling windows and a luxurious bathroom with dual vanities, his-and-hers closets, a stone-finish soaking tub, and a large walk-in shower. Bedroom #2 has a walk-in closet and ensuite bath, plus a den off the kitchen. The unit features one of Fairway Lodge's largest patios with views of the Biltmore Hotel and Piestewa Peak, and includes access to luxury amenities like the clubhouse, pool, spa, and gym.

7137 E Rancho Vista Drive Unit 5011 Scottsdale, AZ 85251

$1,750,000
3 Beds
2 Baths
1,716 SqFt
Status Active
MLS # 6776733
Property Type Apartment
Price Type --
Welcome to this absolutely breathtaking Optima Camelview 3 Bedroom, 2 Bath, 1716 SF luxury remodel. Located on the 5th floor, this corner unit property boasts an amazing floor-plan, two gorgeous private patio's and one of the most private locations in the community filled with natural light and fantastic views. This magnificent property underwent a complete head to toe remodel featuring gorgeous ''polar express'' quartzite countertops, custom cabinetry, Sub-Zero / Wolf appliances, premium plumbing fixtures/lighting and so much more (see documents tab for full list). The master suite is very spacious with lovely views of your own garden oasis private patio. This unit also features 3 HVAC units with wi-fi connected thermostats, two side by side parking spaces and a storage unit. All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.

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