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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2157 W Mulberry Drive Phoenix, AZ 85015

$639,000

4 Beds

3 Baths

2,040 SqFt

Status Active

MLS # 6804463

Property Type Single Family Residence

Price Type --

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992 E Sourwood Drive Gilbert, AZ 85298

$639,000

5 Beds

2.5 Baths

3,036 SqFt

Status Active

MLS # 6790491

Property Type Single Family Residence

Price Type --

Seller relocated. Motivated to sell! Send an offer! Wonderful location, great neighborhood! 5 mins to awesome schools, shops, restaurants and churches. Right next to million dollar communities. This 3000+ sqft property is a must see! Tour it before it's gone. Seller is willing to upgrade according to your preference! Huge Garage storage area. Large than a 3 car garage.

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13218 W Castlebar Drive Sun City West, AZ 85375

$639,000

3 Beds

2 Baths

2,880 SqFt

Status Active

MLS # 6783119

Property Type Single Family Residence

Price Type --

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18852 N 260th Lane Buckeye, AZ 85396

$639,000

2 Beds

2.5 Baths

2,538 SqFt

Status Active

MLS # 6797164

Property Type Single Family Residence

Price Type --

Spacious ENDEAVOR model: Premium corner lot on the highly sought after Mountain Side of Sun City Festival. This exceptional home boasts of numerous premium features and upgrades with 10 ft ceilings, a spacious Great Room/Open Floor Plan that offers versatile dining & entertainment options with Multi-function heat/ambiance fireplace, Large glass sliding door to covered patio & pergola with electric roll-down shades, electric over-head louvers on Pergola. Two Master Bedrooms & large den/library with double door entry & Queen Murphy bed, 2.5 baths, Walk-in showers, Premium wood-like vinyl flooring throughout, Premium cabinet crown molding & decorative hardware, Granite/Quartz counter tops in Kitchen & Bathrooms, Walk-in closets & pantry with built-ins. Upgraded Gourmet kitchen with island Whole House water conditioner/filtration + 3 reverse osmosis systems. instant hot water kitchen sink, Whole House Generac backup electric generator, upgraded electrical & lighting package, two garages with insulated doors, built-in cabinets in larger garage. Only blocks away from 31,000 sq ft fully equipped Rec Center, 27-hold Championship Golf Course, and all the amenities and activities of Sun City Festival.

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3411 W Restin Road Phoenix, AZ 85086

$639,000

4 Beds

3 Baths

2,708 SqFt

Status Active

MLS # 6824224

Property Type Single Family Residence

Price Type --

Gorgeous 2 story home that is really move-in ready! Newly installed carpeting and fresh paint. Tile in the living room, family room, dining room, kitchen and baths. Plantation shutters throughout! Excellent location just a block from elementary school for an easy walk. Kitchen features a walk-in pantry, large island, double ovens, and beautiful granite countertops. Kitchen is open to family room with vaulted ceilings. Oversized laundry room with built-in desk and cabinets, downstairs. Extra storage area in garage. Light, bright, and shows like a dream. Backyard landscaping will be completed next week.

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37585 W Padilla Street Maricopa, AZ 85138

$638,990

4 Beds

3.5 Baths

3,240 SqFt

Status Active

MLS # 6704039

Property Type Single Family Residence

Price Type --

Introducing luxury living in Maricopa! Step into the allure of this Sedona floorplan, offering both a versatile activity room and a convenient home office. Your expansive gourmet kitchen boasts stacked cabinetry, buffet-style lowers, a gas cooktop, and double ovens for culinary perfection. Unwind in your luxurious freestanding tub, entertain on the patio, or store your belongings in the spacious THREE CAR GARAGE! Discover why K. Hovnanian stands as the epitome of Lasting Value in homebuilding. Don't miss your chance to move into this home now! Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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5020 E Waltann Lane Scottsdale, AZ 85254

$638,888

3 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6818163

Property Type Single Family Residence

Price Type --

Paradise... Found! If you've been looking for an inviting, single-level home, with a spacious floorplan & easy maintenance, then Welcome Home! With a new roof in 2023, newer HVAC in 2021, updated bathrooms & fresh paint, there's not much for you to do. Well... actually... there ARE things to do... FUN things... like enjoy the resort-like amenities of your community, including the pool and spa, tennis courts, greenbelts and walking trail. Your new home has direct access to the greenbelt and is just steps away from the pool! And the HOA maintains your front yard landscaping/watering. And when you're not busy enjoying your home & community, you're within 5 minutes of tons of shopping/restaurants/movies & more at Desert Ridge and Kierland. Live the good life... in Paradise Manor!

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5845 S Romano -- Mesa, AZ 85212

$638,589

3 Beds

2.5 Baths

2,491 SqFt

Status Active

MLS # 6788617

Property Type Single Family Residence

Price Type --

MLS#6788617 New Construction - Ready Now! Explore the stunning Hillary floorplan at La Mira! This thoughtfully designed single-story home features 3 bedrooms, 2.5 baths, a study, and a game room. At its heart is an open-concept layout with a spacious gathering room, a chef-inspired island kitchen, and a cozy dining area. The secondary bedrooms share a Jack-and-Jill bath, while the private study is conveniently located near the front entry. The owner's suite, tucked at the back, offers a serene retreat with a walk-in closet and a luxurious en-suite bath. Structural options include: soft water loop, extended covered outdoor living, 12'x8' sliding glass door, game room, and gas line for future outdoor kitchen.

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2923 N 63rd Street Mesa, AZ 85215

New

$638,000

4 Beds

2 Baths

2,531 SqFt

Status Active

MLS # 6832171

Property Type Single Family Residence

Price Type --

***GORGEOUS...MOVE-IN READY...SINGLE STORY...4 BED/2 BATH HOME LOCATED IN NE MESA...LOADED WITH UPDATES...including BRAND newer AC SYSTEM!!*** Don't miss this STUNNING, home located in the HIGHLY SOUGHT-AFTER Mesa Desert Heights community. OPEN FLOOR PLAN features SEPARATE LIVING ROOM, FAMILY ROOM & FORMAL DINING ROOM as well as BEAUTIFULLY FINISHED KITCHEN that includes GRANITE COUNTER TOPS, STAINLESS STEEL APPLIANCES, EXTRA CABINETRY & CENTER ISLAND w/ BREAKFAST BAR! Additional updates include TILE FLOORING, CUSTOM WINDOW COVERINGS, UPDATED LIGHTING/FIXTURES & more. Step outside to a SPACIOUS back yard featuring A HUGE COVERED PATIO AREA w/ CUSTOM-BUILT, MOTORIZED LOUVER, PERGOLA/SHADE SYSTEM to keep you cool for family gatherings & outdoor entertaining. HURRY, THIS ONE WON'T LAST LONG!

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948 W Lookout Circle Prescott, AZ 86303

$638,000

3 Beds

3 Baths

2,270 SqFt

Status Active

MLS # 6823828

Property Type Single Family Residence

Price Type --

Midcentury Home in desirable Hassayampa Mountain Club (no HOA), 5 minutes to downtown Prescott. Remodeled Kitchen, New Gas Fireplace, High E-rated Andersen Windows, New Gas Tankless Water Heater, New Trane HVAC, New Garage Door. New 3rd Bathroom with double-sink vanity and endless walk-in shower. See Improvements listing in photos. Large Entertainment/Den/Guest Room to play, read or just relax. 2 Driveways (upper has new 10 x 20 heavy-duty canopy for covered parking). The spacious Backyard features beautiful Pavers, 20 x 12 Gazebo with lights and fans, built-in Propane Barbecue, attractive Planters and Flagstone Seating with indirect lighting. 3-Zone automatic irrigation. Come discover why this move-in ready house is truly a wonderful home!!

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5028 Spring Garden Lane Prescott, AZ 86301

$638,000

3 Beds

3 Baths

1,845 SqFt

Status Active Under Contract

MLS # 6776000

Property Type Single Family Residence

Price Type --

Nestled in the peaceful community of Walden Ranch, this home blends modern comfort with timeless elegance. The low-maintenance stucco exterior and tile roof reflect quality, while the oversized paver driveways and walkways wrap around the property, adding charm. Brick accents, exterior shutters, and board-and-batten details enhance the home's curb appeal. Inside, an open-concept, split-bedroom floor plan greets you with a spacious great room. The kitchen features newly refurbished white cabinetry, quartz counts, center island, and pendant lighting. GE appliances, including a 5-burner gas range and microwave, complete the kitchen, while the adjacent dining area is bathed in natural light from the large windows and a 9-ft slider that leads to the back patio. The master suite offers raised-height dual vanities, a walk-in shower with a built-in seat, and ample closet space. A private door opens to the back patio, where you can enjoy scenic views. Two guest bedrooms come with ceiling fans, and the front bedroom was extended during construction. The first guest bathroom includes a raised-height vanity and a full tub with a shower. The large laundry room, equipped with upper cabinetry and a hanging bar, doubles as a mudroom. With 10-ft ceilings and 8-ft doors throughout, the home feels spacious and open. New luxury wood-look vinyl flooring runs through most of the home, with wood laminate in the bedrooms, offering a carpet-free environment. The expanded, covered back patio overlooks a fully fenced backyard with no neighbors to the east, providing extra privacy. The HOA's deeded open space adds to the tranquility, with views of the Granite Dells and Constellation Trailhead. A storage shed in the side yard and a 3-car tandem garage with smart features, a utility sink, and plenty of natural light complete this thoughtfully designed home.

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24916 W Red Robin Drive Wittmann, AZ 85361

$638,000

3 Beds

2 Baths

1,724 SqFt

Status Active

MLS # 6790477

Property Type Single Family Residence

Price Type --

Discover this stunning Santa Fe-style 3-bed, 2-bath rambler on over an acre, offering endless possibilities for car, hobby, or horse enthusiasts. Recent upgrades include luxury vinyl plank flooring, remodeled primary bath, engineered stone kitchen counters & 3-car garage show quality grated floor. Enjoy RV/large vehicle carports, new fire pit, and spacious pavered patio. The indulgent highlight: a luxury St. Croix outdoor kitchen by Kokomo with a fire table, wine fridge, TV, cooktop and BBQ. Impeccable landscaping surrounds this home, and the fully fenced backyard features a remote control race track (easily reverted back to a mare motel). RV hookups, septic dump and 10,000lb hoist included. No HOA, Community water. Furnished for a fast start to your Arizona getaway! Roof done 2024!

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