How Long Do Most Families Stay in Their Home?

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%.

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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7252 N Via De La Montana -- Scottsdale, AZ 85258

Open House

$1,100,000

3 Beds

2.5 Baths

3,440 SqFt

Status Active

MLS # 6748143

Property Type Townhouse

Price Type --

MASSIVE $$ REDUCTION UPDATED sophisticated & timeless contemporary elegance w/ a functional Modern feel. Soaring ceilings, 2 sumptuous masters 1 up 1 down & 3rd bedroom , FRESHLY PAINTED, NEW ROOF, NEW HVAC 2021 , NEW TILE FLRS T/O 2021, NEW CARPET IN bdrms May 2024,, NEW HOT WATER HEATER April 2024, SUBFLOOR REPLACED TOO! floating stairs. 3 ENTERTAINING PATIOS, UPDATED PLUMBING & DOOR HARDWARE, Loft for entertaining office/FLEX ROOM Expansive rooms & beautifully appointed. Kitchen & SPA baths updated, kitchen w/WINE REFRIGERATOR FABULOUS closets ! BACK PATIO ROOF EXTENDED WITH NEW 30' METAL BEAM, NEW FICUS BUSHES AROUND ENTIRE PERIMETER on back patio for privacy. MULTI SLIDE DOOR IN GREAT ROOM BRINGS OUTDOORS INSIDE GREAT ENTERTAINING SPACES ROLLADEN SHADES too!! Lock/Leave, Sewer scoped Back patio has 45 ficus bushes for privacy and is 24 x 35 Front patio is 15 x 20 and a morning patio off kitchen is 12 x1 2 which makes this feel like a single family residence. Pool across the street with zero maintenance from YOU!! Freshly painted throughout. Pride of ownership community, killer location, walk to Talking Stick, close to ALL night life, ball games, shopping and restaurants, lush grassed McCormick Ranch, a beautiful place to call home.STABLE neighborhood as people buy here and stay for decades. ET Wright architecture way ahead of his time. We did pre listing inspection, we are flawless now! The pizazz in this floorplan makes it feel ageless and relevant! This kind of space along w/3 outdoor living patios (front, kitchen & back) isn't seen anywhere but here! Rolladen shades make it ideal for a lock n leave! These Sands Scottsdale Townhouses have become timeless examples of contemporary architecture. Close to restaurants, shopping & night life. Great square footage for an amazing price, WE ARE THE LOWEST PER SQUARE FOOT OF ANY TOWNHOUSE IN 85258, one of a kind entertaining spaces that invite company, and a phenomenal location!! It has it ALL, makes it yours today!

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4456 S Santiago Way Chandler, AZ 85248

Open House

New

$1,100,000

4 Beds

3.5 Baths

2,956 SqFt

Status Active

MLS # 6788892

Property Type Single Family Residence

Price Type --

Welcome to this move-in ready home with an attached guest quarter! Fall in love with the sweet curb appeal and welcoming courtyard. The 2-car garage, paver driveway, and RV gate allow you to bring all your vehicles. Upon entering, you'll see the luminous great room for receiving guests and the double-door den for office space. Wood/tile floors, plantation shutters, and neutral paint throughout. The family room offers immersive surround sound speakers for enhanced entertainment! Cook gourmet recipes in the eat-in kitchen showcasing a center island, granite counters, SS Monogram appliances, wood cabinets, and a pantry. The main retreat has backyard access and a spa-like ensuite with two vanities, garden tub, step-in shower, and walk-in closet. Over 13,000 sqft lot with stunning sunset views The guest quarter offers a spacious closet, full bathroom, and private entrance/exit. Ample laundry room with cabinets, utility sink, and direct access to the guest quarter. Discover a pie-shaped backyard boasting a covered patio with extended paver, green grass, view fence, and so much space to play and grow. You don't want to miss this property in Fulton Ranch!

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16746 W La Reata Avenue Goodyear, AZ 85395

Open House

$1,100,000

2 Beds

2.5 Baths

2,175 SqFt

Status Active

MLS # 6781338

Property Type Single Family Residence

Price Type --

This Nearly NEW home features an amazing backyard with multiple entertaining areas, built-in BBQ, self-cleaning sparkling pool & secluded hot tub, perfect for year round enjoyment! Inside, enjoy an open floor plan with wood-look tile, remote blinds & shutters, a gourmet kitchen with soft-close cabinets & drawers, pull outs in lowers, quartz counters, large island & high-end SS appliances w/vented hood. The spacious primary retreat includes dual sinks & walk-in closet. This home also offers a fully insulated, 2.5-car garage with A/C, chip flooring, overhead storage, utility sink & RV outlet. A flexible den & powder room complete this upgraded home. Easy-care landscaping makes this the perfect retreat! Owned SOLAR to heat pool. This home is truly a dream come true and MOVE-IN ready! This very Active Adult community includes 3-18 hole Golf Courses, 40+ Pickleball & Tennis Courts, State of the Art Fitness Centers, Creative Arts Center, Multiple resort style Pools and Hot Tubs, Theater with live performances, Casual dining, Billiards room, Bocce courts and more. Come take a look!

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1810 E Mountain View Road Phoenix, AZ 85020

Open House

$1,100,000

4 Beds

4.5 Baths

3,041 SqFt

Status Active

MLS # 6704185

Property Type Single Family Residence

Price Type --

This 2013-built ''Uptown Home'' nestled in the prestigious gated community of Cinnabar Canyon Estates is primed and ready! Great views from every corner! Each bedroom boasts its own ensuite bathroom & spacious walk-in closets. The gourmet kitchen, with BRAND NEW stainless steel appliances, features custom cabinetry with convenient pull-out drawers and backsplash. A deck atop the roof, offering panoramic vistas of the valley's skyline is what this location is all about! Desert landscaping envelops the property, featuring a private yard & an expansive covered patio, perfect for entertaining. Retreat to the separate master suite, complete with a colossal walk-in closet, 8' solid core doors and soaring 10' ceilings! On a beautiful half-acre hillside lot, this 2024 remodeled gem stands out!

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6996 E Mighty Saguaro Way Scottsdale, AZ 85266

Open House

$1,100,000

3 Beds

2.5 Baths

2,360 SqFt

Status Active

MLS # 6756730

Property Type Single Family Residence

Price Type --

Discover the beauty of this 2,360 sq. ft. Stella model in the prestigious guard-gated community of Terravita in Scottsdale. This single-level home offers a spacious and thoughtfully designed layout, perfect for easy living and entertaining. The large windows fill the home with lots of natural light and great view of the backyard oasis. Kitchen includes updated appliances with just enough space to entertain. Some of the updates: Primary and 2nd bathroom have been beautifully updated, Newer roof, pool resurfacing, pool pump and remote shades on some windows. Residents of Terravita enjoy access to top-tier amenities, including a world-class golf course, tennis courts, Pickleball, fitness center, community pool, and scenic walking trails. Don't miss the chance to own this exceptional home in one of Scottsdale's most desirable communities!

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6841 N 183rd Avenue Waddell, AZ 85355

$1,099,999

5 Beds

3 Baths

3,416 SqFt

Status Active

MLS # 6708808

Property Type Single Family Residence

Price Type --

Own a beautiful Updated HORSE PROPERTY with attached GUEST HOUSE. This irrigated, 2-acre lot features a lighted riding ARENA and multiple covered stalls ready for your horses. The UPDATED interior boasts an open floor plan with clean lines promoting a modern design. The tall VAULTED CEILINGS & skylight add a spacious feel & abundant natural light. Freshly painted interior highlights some of the main features including plank tile flooring, recessed lighting, a charming dining area, and a sizable living room with a fireplace. The impeccable kitchen showcases plenty of shaker style cabinets, custom tile backsplash, GRANITE countertops, stainless steel appliances, double ovens, induction cooktop and an oversized island with under counter cabinets. Newer roof and 1 New AC 2024. The owner's suite offers backyard exit, a sitting room, and a full ensuite with dual sinks & jetted tub. Convenient den ideal for an office. You'll also find an attached guest house fully equipped with a full kitchen with new appliances, a great room with fireplace, and a large bedroom with a bay window, a full bathroom with jetted tub, and a walk-in closet. The backyard is tastefully divided; it offers a well-sized patio surrounded by lush vegetation and lots of space for fun & games. In addition, there're many stalls, and tons of space for horses to roam. The home has upgraded insulation and a radiant barrier and LED lights throughout for energy efficiency. Enjoy the country-style living this unique value offers.

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17565 E Blaze Lane Rio Verde, AZ 85263

$1,099,999

2 Beds

2.5 Baths

2,441 SqFt

Status Active Under Contract

MLS # 6685314

Property Type Single Family Residence

Price Type --

Welcome to this stunning fully furnished Cordoba Model home with luxurious features and ample space for comfortable living. This captivating residence offers 2 bedrooms plus a den, providing flexibility for various living arrangements. With 2.5 bathrooms spread across 2,441 square feet of meticulously designed space, every corner of this home exudes elegance and functionality. Step inside to discover a split floor plan that ensures privacy and convenience. The heart of the home is the expansive kitchen, boasting GE Monogram Gas Gourmet Appliances, perfect for culinary enthusiasts. Entertain effortlessly in the Great Room, where an impressive 20-foot slider door floods the space with natural light and seamlessly connects indoor and outdoor living. Indulge in the luxury of a dedicated wine space equipped equipped with two wine fridges. Upgraded flooring throughout adds to the home's sophisticated charm, while the laundry room offers convenience with 30 upper cabinets, lower cabinets, and built-in desks. Situated on an oversized premium lot spanning 12,782 square feet, this home features a fenced yard for added privacy and security. Enjoy outdoor gatherings on the covered patio with brick pavers, complemented by a large fire pit for cozy evenings under the stars. The 2-bay oversized garage, complete with an AC unit, provides ample space for storage and parking. Custom landscaping surrounds the property, including a large putting green, perfect for outdoor recreation and relaxation. Experience luxury living at its finest in this meticulously crafted home, where every detail has been thoughtfully designed for your comfort and enjoyment. Make this your dream home come true!

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6925 E Ashler Hills Drive Scottsdale, AZ 85266

$1,099,999

6 Beds

3 Baths

2,412 SqFt

Status Active

MLS # 6738852

Property Type Single Family Residence

Price Type --

Wow, just wow! Welcome to your dream home, nestled on over 2 acres of a desired corner lot with a charming courtyard! Discover an expansive living & dining room w/gas fireplace & plush carpet, fire sprinklers, soothing paint tones, ceiling fans, & a bright family room w/stylish laminate flooring & easy access to the back patio. The fully equipped kitchen boasts an electric cooktop, a wall oven, beautiful wood cabinetry, ample counter space, & an island w/breakfast bar. Plantation shutters & wood-look floors in all bedrooms! The main retreat offers backyard access, a walk-in closet, & its own bathroom. Don't miss the custom sauna for ultimate relaxation! Escape to the backyard paradise featuring a covered patio, a storage shed, a fenced diving pool, a basketball hoop, & plenty of room for additions & recreational toys. Enjoy the perfect location with stunning mountain views & quick access to North Scottsdale & Cave Creek, offering the best restaurants, shopping, and golf experiences. Move-in ready! This value will not disappoint!

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7498 E Timberlane Court Scottsdale, AZ 85258

$1,099,999

3 Beds

2.5 Baths

2,575 SqFt

Status Active

MLS # 6750561

Property Type Single Family Residence

Price Type --

You'll LOVE this gorgeous 3 bed +DEN, 2.5 bath two-story home in the desirable Eastwood Community! Nestled on a quiet cul-de-sac, this beauty displays a 2-car garage, mature landscape w/shade trees, & a front patio w/Saltillo floors. Home exudes elegance with stylish light fixtures, abundant natural light, a neutral palette, and tasteful flooring - stone tile & Berber carpet in all the right places. The welcoming living room, with a fireplace & dramatic vaulted ceilings, perfectly flows onto the cozy dining area. Open-concept family room, featuring a wet bar w/wine cooler & sliding doors merging the inside/outside activities. The impressive kitchen boasts SS appliances, granite counters, subway tile backsplash, recessed lighting, white cabinetry, and a breakfast area w/bay window All bedrooms are upstairs! Large main bedroom has French doors that open to the attached balcony and an ensuite with dual sinks & two walk-in closets - one is spacious. An added perk is the bonus room, ideal for an office, TV area, or playroom. If entertaining is on your mind, the impressive back & side yards await you! With covered patios, a greenhouse, multiple seating areas, and a sparkling pool, this space promises year-round enjoyment. What's not to like? This gem won't disappoint!

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W Adobe Dam Road Queen Creek, AZ 85144

$1,099,900

4 Beds

3 Baths

3,081 SqFt

Status Active

MLS # 6336046

Property Type Single Family Residence

Price Type --

TO BE BUILT! New 4 bedroom 3 bath on 3.3 acre horse property NO HOA lot! Standard features include 4-car garage, granite throughout, stainless, covered patio(s), tile roof, and more! Plenty of time for Buyer selections of cabinets, flooring, paint, etc... estimated completion 7-8 months from ground-breaking. Drive by only.

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7175 E Camelback Road Unit 107 Scottsdale, AZ 85251

$1,099,900

2 Beds

2.5 Baths

1,243 SqFt

Status Active

MLS # 6751818

Property Type Apartment

Price Type --

Nestled in the heart of Scottsdale's lively community, this exquisite ground-floor condo at the Scottsdale Waterfront Residences offers a rare find. With 2 bedrooms, 2.5 baths, and stunning views of the tranquil canal and lush park, this residence combines luxury with comfort. The bright, open living space is enhanced by elegant Lutron lighting and crown molding. The gourmet kitchen is a chef's dream, featuring high-end appliances and top-notch finishes. Included are two dedicated garage parking spaces and a spacious storage room. Residents enjoy exceptional amenities, including 24-hour security, a rooftop pool, a stylish resident club room, a wine cellar, a premier fitness center, and valet parking. All this is just moments away from world-class dining, upscale shopping, and more!

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4913 W Hackamore Drive Phoenix, AZ 85083

New

$1,099,900

4 Beds

3.5 Baths

4,525 SqFt

Status Active

MLS # 6789328

Property Type Single Family Residence

Price Type --

Nestled on a corner lot just under half an acre, this stunning 4-bedroom, 3.5-bathroom home features a finished basement and versatile spaces, perfect for modern living. The open-concept kitchen, a chef's dream, includes granite countertops, double wall ovens, and abundant storage. The adjoining family room offers a cozy yet spacious retreat for gatherings. An elegant formal living room and dining area with expansive glass windows looking out to backyard brings the outside in. The primary suite boasts two walk-in closets, recessed lighting, and a spa-inspired bathroom with dual vanities, two private water closets, and a luxurious ambiance. A versatile den with French doors and built-in bookcases makes for the ideal home office or library. Upstairs, a second bedroom connects to an upgraded bath with double sinks for added convenience. The 1,200-square-foot finished basement expands the living space with a recreation room, two additional bedrooms, and ample storage. Outdoors, enjoy the serene raised patio with a tranquil waterfall and a built-in barbecue area equipped with water and electricity. The sprawling space offers plenty of room to play or entertain, while a private, air-conditioned bonus room accessed from the yard is perfect for hobbies or projects. Additional highlights include 12-foot ceilings, spacious laundry room with built-in cabinetry and sink, a 4-car garage with extra storage, a charming west-facing courtyard, and a PH1000 whole-house water filtration system with an 8-year warranty. Conveniently located near schools and shopping, this home seamlessly combines luxury, functionality, and style.

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