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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3221 W Kristal Way Phoenix, AZ 85027

$599,950

4 Beds

2.5 Baths

2,306 SqFt

Status Active

MLS # 6752650

Property Type Single Family Residence

Price Type --

This beautiful home has a North/South orientation on a large corner lot in the all-one-story Country Ridge neighborhood. A delightfully green back yard features a large covered patio and an open patio adjacent to a Pebble Tec play pool. The family room/kitchen/breakfast area is the center for entertaining friends. .A very large granite counter provides lots of serving space for indoor/outdoor parties. The formal living room and dining room give you that special location for holiday fun. You will be comfy cozy on those chilly winter evenings and you will have No Problem with those ''no burn days'', because the fireplace has a gas log set and an owned propane tank. The walk-in pantry has full shelves and is a room of it's own. The kitchen is a gourmet's delight with pull-outs in the base cabinets and loads of luxurious granite counter space. There is a High Definition Broadcast TV Antenna installed and ready to receive local channels for FREE. An extended Three Car Garage has two garage door openers, an epoxy coated floor, painted walls & ceiling shelf & cabinet storage AND Air Conditioning and Heat from a mini split system. The carport provides covered parking for a fourth car. The deep garage gives you lots of shop space and when you combine this with the bonus covered work area that is adjacent to the car port, you have a dream setup for hobbies, gardening, auto maintenance/restoration or whatever your heart desires. There are multiple Charter, Private and Public educational choices for your children within walking distance. The neighbors are great, the street has very little traffic and the freeway is just a few minutes away. Commuting to downtown Phoenix, the Scottsdale Airpark Area or the Taiwan Semi Conductor Campus are all within easy reach. Welcome Home!

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600 S Wilson Street Tempe, AZ 85281

$599,900

2 Beds

2.5 Baths

1,795 SqFt

Status Active

MLS # 6772249

Property Type Townhouse

Price Type --

Just Listed at the Brownstones at Hyde Park. Beautifully updated 3 story property located within quiet tree lined streets, with great walkability to all Downtown, ASU, and Tempe Town lake. The home boasts 2 bedroom suites, each with large walk in showers. The mail level great room has vaulted ceilings and new light plank flooring. Minka ceiling fans with 99'' fan in the main living area. Large front bay window for morning sun. Lots of room for dining space, and kitchen with granite counters, custom cabinets and new fridge 2021. The lower level has tile and new carpet. 2 car garage with wall storage for your bikes. RO System, and whole home water softener. Updated Lutron smart lights, Nest thermostats, smoke alarms and Nest doorbell too. Large community Pool! All here in the heart of Tempe

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13567 N 142nd Avenue Surprise, AZ 85379

$599,900

5 Beds

3 Baths

2,859 SqFt

Status Active

MLS # 6779114

Property Type Single Family Residence

Price Type --

''ELEGANT & METICULOUS'' HIGHLY UPGRADED LIGHTLY LIVED IN NEWER HOME IN HOMESTEAD AT MARLEY PARK!'' *GOURMET CHEF'S KITCHEN ''HUGE'' GRANITE ISLAND BAR, STAINLESS APPLIANCES & TURBO GAS RANGE *A FULL BEDROOM & BATH DOWNSTAIRS PERFECT FOR GUEST SUITE OR OFFICE/DEN! *NEWLY INSTALLED FAUX WOOD FLOORS IN LOWER LEVEL! *HUGE BONUS/GAME ROOM W/SPLIT 5 BEDROOM FLEX FLOOR PLAN! *GET ENERGIZED IN YOUR ONE & ONLY PRIVATE SPARKLING 'HEART SHAPED' SWIMMING POOL & WATER FEATURE! *LOW MAINTENANCE BACKYARD W/FAUX GRASS & PAVERS! 3 CAR GARAGE *YOUR FAMILY WILL 'LOVE' & ENJOY STATE OF THE ART COMMUNITY POOL & FITNESS CENTER* SPLASH PARK *BBQ PICNIC AREA & GAME ROOM* THIS LOVELY HOME & COMMUNITY HAS IT ALL!* DON'T MISS THIS GEM! *1 OWNER! *CLOSE TO TOWN CENTER SHOPPING AREA ELEMENTARY SCHOOL ON PREMISES!*

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16420 N Thompson Peak Parkway Unit 1127 Scottsdale, AZ 85260

$599,900

2 Beds

2.5 Baths

1,640 SqFt

Status Active

MLS # 6716181

Property Type Townhouse

Price Type --

This super clean and well maintained townhome has never been on the market until now. Updated w/new paint & carpet this Cachet Legacy floorpan is one of there most popular as it has soaring ceilings w/office/bedroom down and master plus a second bed/bath up. Nice sized kitchen family room w/gas fireplace and only one common wall so very private and feels like a detached unit. Add to this a direct entry 2 car garage and an unbeatable location in McDowell Mountain Ranch within walking distance to the Big, Bashas, CVS, etc. McDowell Mountain features parks, walking trails, a great community center w/tennis, pickle ball, basketball, and pool. Cachet features its own community pool/spa plus a small workout center & clubhouse. This unit has been well maintained & iis priced to sell quickly.

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2515 W Minton Street Phoenix, AZ 85041

$599,900

4 Beds

3 Baths

2,795 SqFt

Status Active

MLS # 6755439

Property Type Single Family Residence

Price Type --

Up to $10 GRANT OF PNC BANK. Please check if your client qualifies. A fantastic single-level home with four beds and three full baths awaits you! Offering attractive curb appeal, a three-car garage & RV gate/parking. The double-door entrance leads to a charming interior with a w/carpeted living & dining room, luxurious light fixtures, beautiful pillars, archways throughout, & neutral palette. Well-maintained kitchen is equipped w/SS appliances, double refrigerators, cabinetry w/crown molding, granite counters, mosaic backsplash, walk-in pantry, & a center island w/breakfast bar. The main bedroom has a double-door entry and a spotless bathroom w/dual sinks, a separate tub, & walk-in closet. Host fun barbecues in this spacious backyard with a w/covered patio, pavers, & storage shed.

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25398 S 227th Street Queen Creek, AZ 85142

$599,900

5 Beds

3.5 Baths

2,767 SqFt

Status Active

MLS # 6762278

Property Type Single Family Residence

Price Type --

This beautifully maintained home features a versatile layout with a second master bedroom downstairs alongside another bedroom, perfect for guests or extended family. Upstairs, there are three additional bedrooms, a cozy den, and a generously sized master suite. The homes centerpiece is a stunning oversized kitchen, seamlessly opening to the living area, ideal for entertaining and everyday living. Every inch of this home has been meticulously cared for, ensuring it is in pristine condition, ready for move-in, and perfect for both relaxation and hosting.

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5249 E Hobart Street Mesa, AZ 85205

$599,900

4 Beds

2.5 Baths

2,397 SqFt

Status Active

MLS # 6758446

Property Type Single Family Residence

Price Type --

**1% Free Rate buydown for the 1st 12 months with preferred lender Craig Cusick, ** This beautiful 4-bedroom, 2.5-bathroom home offers 2,397 sq ft of spacious living. The impressive kitchen is perfect for any chef, featuring ample cabinets and generous counter space. Enjoy cozy evenings in the living room with a fireplace, ideal for entertaining. The primary bathroom offers a relaxing retreat with dual sinks, a walk-in closet, and a separate tub and shower. Step outside to your sparkling pool, the perfect spot to host your next gathering. Same floor plan just sold in September for $620,000. This is a great value. DO NOT miss out—make this stunning home yours today!

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8129 W Ross Avenue Peoria, AZ 85382

$599,900

4 Beds

2.5 Baths

2,337 SqFt

Status Active

MLS # 6759468

Property Type Single Family Residence

Price Type --

This amazing fully upgraded home in the heart of Fletcher heights has one of the largest pie shaped private lots in the subdivision. This one offers brand new LVP flooring throughout the entire first level, upgraded stainless steel appliances in kitchen, new quartz countertops, built in custom fireplace in great room, upgraded light fixtures throughout, custom master shower/tub, upgraded bathrooms throughout, and so much more. 4 bedrooms and loft upstairs, large great room floor plan downstairs, and RV Gate with huge slab behind the gate. Take one look at the photos and get your buyers in the car. This home on this lot will go fast!

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1252 E Brentrup Drive Tempe, AZ 85283

$599,900

3 Beds

2 Baths

1,875 SqFt

Status Active

MLS # 6772127

Property Type Single Family Residence

Price Type --

Convenient Tempe location with abundant upgrades throughout. Quartz countertops, refinished cabinetry, remodeled bathroom, laundry and hallways. New flooring in entry, great room, baths, laundry and hallways. New roof (replaced in 2021). New micro-pebble pool surface (2020) and new filter. Pergola covered patio with mist system and electric fireplace in great room. American standard 4-ton heat pump (2019). Insulated front door, French door with dual pane glass, Milgard dual pane windows, owned 6.3KW Photovoltaic solar system. Large lot with private backyard oasis to enjoy!

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9243 E Sector Drive Mesa, AZ 85212

$599,900

3 Beds

2.5 Baths

1,810 SqFt

Status Active

MLS # 6774300

Property Type Single Family Residence

Price Type --

FORMER MODEL HOME! Ready for Quick Move-In. 3 BR + study / 2.5 BA. Kitchen with island and ''Landen Maple'' Burlap cabinetry, white quartz countertops & white-grey herringbone kitchen backsplash with under cabinet lighting. Upgraded tile flooring in all living areas with upgraded carpet in bedrooms, hallways & closets! Dual vanity sinks in both full bathrooms. LED lighting and upgraded light fixtures throughout, smart switches, two-tone paint. This home also features a landscaped backyard with paver patio & washer, dryer, fridge & window treatments included!

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16656 S 13th Street Phoenix, AZ 85048

$599,900

3 Beds

2.5 Baths

2,040 SqFt

Status Active

MLS # 6780667

Property Type Single Family Residence

Price Type --

Beautiful Foothills home on an oversized, cul-de-sac, end lot with numerous upgrades. Nice back/side yards with lots of green landscaping and a large swimming pool. Multiple upgrades including newer kitchen with granite counters and stainless steel appliances (2016), laminate flooring upstairs (2016), hardwood staircase (2016), resurfaced pebble-tech pool with new filtration system (2021), new guest bath (2022), hot water heater (2022) and the master closet organizer (2023). High grade tile bathrooms with tub in master bath. Nice big loft is a great space for an office or bonus room. Move in ready!

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10733 W Swayback Pass Peoria, AZ 85383

$599,900

3 Beds

3 Baths

2,282 SqFt

Status Active

MLS # 6785066

Property Type Single Family Residence

Price Type --

This deal is a steal! Price includes 20k for rate buy down and closing cost, and is still priced below comps. The floorplan is 50 ft wide, nicely upgraded, and features 3 beds, plus a den, 3 full baths, and a 3 car garge, located on a large premium lot. The back yard is finished with pavers, turf, and a large covered patio. The setbacks are large for privacy, and there is a double gate on the east side. Bring your offer today.

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