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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1800 N 156th Drive Goodyear, AZ 85395

$649,000

3 Beds

3 Baths

2,558 SqFt

Status Active

MLS # 6782725

Property Type Single Family Residence

Price Type --

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$649,000

3 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6784755

Property Type Single Family Residence

Price Type --

Stunning 1700 Sq. Ft. (1412 main; 288 detached office) Spanish Craftsman Revival in Coronado. Fully renovated with 3 spacious bedrooms, 2 bathrooms, large dining room and brand New kitchen cabinets, countertops and backsplash. New updates include a brand new AC unit, Low-E Premium dual pane windows from Anlin, premium vinyl flooring, newer water heater, New 200Amp electrical panel, New copper electrical wiring with grounding in the entire house, new exterior and interior paint, and New ABS plumbing and sewer lines throughout the house and all the way outside to clean-outs. Both bathrooms have been remodeled with new flooring, cabinets and shower tile. No detail left untouched! +++This home includes a detached 288 Sq Ft office/studio/gym/yoga studio with a moving glass wall, 10 foot wide bi-fold door perfect for allowing the outdoor elements In when weather permits. Premium vinyl flooring and separate mini split AC unit. The attic has been closed and insulated.

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3233 S Lebanon Lane Tempe, AZ 85282

$649,000

3 Beds

2 Baths

1,626 SqFt

Status Active Under Contract

MLS # 6717336

Property Type Single Family Residence

Price Type --

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235 W Liberty Lane Payson, AZ 85541

$649,000

3 Beds

2 Baths

1,378 SqFt

Status Active Under Contract

MLS # 6751212

Property Type Single Family Residence

Price Type --

Rural living but close to town amenities! Suburban ranchette features 2.65 acres fenced and cross fenced for horses and other live stock. Fenced organic garden area and orchard. Numerous storage buildings, fenced chicken compound with coup, tack shed, large craft/work shed, oversized two car garage. Private well on property, plus an interest in Community well. Round pen set up with walker.

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16234 E Links Drive Fountain Hills, AZ 85268

$649,000

2 Beds

2 Baths

1,878 SqFt

Status Active Under Contract

MLS # 6766788

Property Type Apartment

Price Type --

You'll love this 2 bed, 2 bath PLUS office single-level condo with golf course views & 2 car garage in Balera at Firerock! Step inside to an open greatroom with high ceilings. The kitchen is the heart of the condo with walls of cabinets, large island, stainless appliances, granite counters & tile backsplash. The main bedroom also has golf course views & large ensuite bath with dual vanity, soaking tub, walk-in shower & ample walk-in closet. The guest bedroom is split & offers direct access to the guest bath - making it a mini-ensuite. The 3rd room has pocket doors-perfect for office, bedroom or hobby room. Relax inside or on your patio while taking in the views of Firerock Golf Course. All this plus the gated lock-and-leave Balera Lifestyle with community pool & fitness room! View today!

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8442 S 22nd Street Phoenix, AZ 85042

$649,000

4 Beds

3 Baths

2,915 SqFt

Status Active

MLS # 6776403

Property Type Single Family Residence

Price Type --

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17201 E Rockwood Drive Fountain Hills, AZ 85268

$649,000

3 Beds

2 Baths

1,720 SqFt

Status Active

MLS # 6774894

Property Type Single Family Residence

Price Type --

Welcome to your private oasis! This beautifully updated 3-bedroom, 2-bath home features a stunning pool, serene yard with a tranquil waterfall and great Red Mountain Views!! Vaulted ceilings create an airy feel in the living and dining areas. The family room connects to an updated kitchen (2024) with granite countertops, new appliances, and a large island. The split bedroom layout ensures privacy, while the master bath boasts an updated dual vanity and stylish tile backsplash. Recent upgrades include a new R/O system (2023), hot water heater (2022), pool equipment (2020), HVAC (2018), and a partial remodel of the master bath (2024). Located in a well-maintained neighborhood with easy access to Shea, this home is a true gem!

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5115 E Zenith Lane Cave Creek, AZ 85331

$649,000

3 Beds

2 Baths

1,861 SqFt

Status Active

MLS # 6784366

Property Type Single Family Residence

Price Type --

This 3/4 acre lot has a single level 1,861 sqft., 3 bedroom/2 bathroom home and a detached 4 car garage with room to add on. Move in or put your own custom touches on it and enjoy your expansive lot with natural Arizona landscape including Saguaro's, fruit trees and mature trees. Park your RV on the lot and store your toys in the extended length area of the garage. Set in a great location in Cave Creek and not far from the shopping, restaurants and nightlife in famous Carefree.

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17621 N Eagle Crest Drive Surprise, AZ 85374

$649,000

2 Beds

2 Baths

2,273 SqFt

Status Active

MLS # 6761486

Property Type Single Family Residence

Price Type --

Sun City Grand 2 bed 2 bath w/Den on Granite Falls South Golf Course with a great view of #16 green. Quartz counter tops and maple cabinets at the kitchen, carpet and tile throughout. A gas fireplace at the living room, double sinks at master bath and bay at master bedroom. Closet shelving system at master closet. Shutters and honeycomb blinds for window coverings, Ceiling fans, solo tubes, & water softener. Extended 3 car garage w/cabinets and a work bench. Step onto the extended e facing patio for great views and a built in gas BBQ.

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22909 N Las Positas Drive Sun City West, AZ 85375

$649,000

2 Beds

2 Baths

1,837 SqFt

Status Active

MLS # 6776318

Property Type Single Family Residence

Price Type --

Discover luxurious living in this exquisite 2 bedroom, 2 bathroom + Den home, perfectly positioned within the exclusive Corte Bella Country Club. Offering privacy and elegance, this San Ysidro model spans 1,837 sq ft and is ideally situated with breathtaking views of the 13th fairway and green. The home features a redesigned kitchen with white cabinetry, designer backsplash, upgraded countertops, and a full stainless steel appliance package. Recent upgrades include a 2022 new A/C unit, a 2018 water heater, and a 2023 irrigation system overhaul. Enjoy a resort-style backyard providing a private escape with extended patios, multiple entertaining areas, fresh gravel, 2020 misters, and a newer BBQ Bar Top. Perfect for relaxing enjoying the views or hosting lively gatherings. The custom media wall with a fireplace and the den wall changed with entrance off the hallway enhance this home's charm and functionality, especially with den having its own private exit to patios. Secure your piece of paradise in this gated community, renowned for its seclusion and refined living. Don't miss out on this popular San Ysidro model with golf views from almost every room, a gem for those seeking luxury and comfort.

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25645 W Blue Sky Drive Wittmann, AZ 85361

$649,000

4 Beds

2 Baths

2,139 SqFt

Status Active

MLS # 6650375

Property Type Single Family Residence

Price Type --

Easy To Show, Over 1 Acre Horse Property on this beautiful 4 bedroom, 2 bathroom single family home located in Wittmann, AZ. Comes with a Separate Fenced Pool Area to cool off in the summer heat! A Split Floor Plan 2 40 foot Cargo Containers. 2 Horse Stalls, Covered RV Parking. and a 50 ft portable round Horse Exercise Ring. Beautiful backyard with trees to provide shade perfect for a family event. Has an open garage with lots of available space to leave your vehicles in, 2 RV Hook-ups and 2 Container Storage units, Leased Solar Panels to reduce Electric Bills, and Additional Storage Shed.

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1511 E Luminous Lane Queen Creek, AZ 85140

$649,000

3 Beds

2.5 Baths

2,282 SqFt

Status Active

MLS # 6716533

Property Type Single Family Residence

Price Type --

$$ ALERT $$ This exact model just went pending on golf & asking $1,249,000. What a bargain at this price. Add your own updates and be well under value with a one-of-a-kind just over 12,000 sq. ft. Step outside past the double rolling walls of glass and enjoy the private backyard with mature trees. You'll find stone pavers, built in BBQ, fire pit and turf grass. Inside the home you will find the perfect space to entertain. Step into the primary suite and relax in the sitting room with a good book and glass of wine. Front guest bedroom allows privacy for anyone visiting. The home also offers a ''smart space'' in the laundry room for additional work space and cabinets. The golf cart garage provides more storage as well.

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