New data from the National Association of Realtors show that homeowners are staying in their homes for a record-high average of 10 years before selling, and in 6 of the top U.S. housing markets, more than 20 percent of all households have not moved in nearly 20 years.
A variety of factors are keeping homeowners home, which in turn is stalling housing market supply. Ali Wolf of Meyers Research found that the experience of the Great Recession is still affecting homeowners' mindsets, including those who did not go through foreclosure. Other homeowners are keeping, not selling their starter homes as an investment.
The markets with the highest percent of homeowners staying put largely share a few things in common: a centralized downtown, lifestyle desirability, and affordability challenges. Among top markets, the notorious bubble markets, Phoenix and Las Vegas, have the lowest percent of tenured homeowners.
