How Often Do Homeowners Move?
Understand the evolving timeline of homeownership duration and the dynamic forces shaping when and why people relocate.
Homeownership represents a significant commitment. Understanding homeowner mobility—how frequently homeowners relocate—provides insights into housing market dynamics. This information reflects economic conditions, financial planning strategies, and offers perspective on housing inventory, demand, and community stability.
Understanding Homeowner Mobility
The typical duration a homeowner stays in their residence across the United States currently averages around 11.8 to 12.3 years. This represents the median tenure, meaning half stay longer and half shorter. This average is calculated by analyzing historical county records and time between purchase and sale.
Variations exist within this national average. First-time homebuyers often reside in their initial homes for a shorter period, typically two to five years, compared to repeat buyers. Homeowners in certain metropolitan areas (e.g., Northeast, parts of California) tend to remain longer, 15 to 19 years. Conversely, homeowners in some Mountain or Central states exhibit lower average tenures, staying in their homes for seven to nine years.
Key Influences on Moving Decisions
Homeowners relocate due to several factors. Personal and life-stage events often serve as catalysts. These include family changes (e.g., needing more space or downsizing), job relocations, and retirement. Desire for different amenities, improved lifestyle, or climate change can also prompt a move.
Economic conditions impact mobility patterns. Fluctuations in interest rates can create a “lock-in effect,” making homeowners with lower fixed-rate mortgages reluctant to sell and incur a higher new rate. Growth in home equity provides financial flexibility, enabling purchases of larger or more desirable properties. Property taxes, varying by jurisdiction and assessed value, can also influence moves, especially if they become a substantial financial burden.
Broader housing market conditions also influence moving decisions. The balance between housing supply and demand, and availability of desirable properties, affects how easily homeowners find a suitable new residence. High home prices and limited inventory deter movers, as finding an affordable replacement becomes challenging. Affordability issues, including housing costs to income ratio, can limit transitions to new properties.
Tracking Changes Over Time
Homeowner tenure has changed significantly over time, reflecting societal and economic shifts. In the early 2000s, median tenure was about 6.5 years, steadily increasing to a 2020 peak of 13.5 years. This trend was partly influenced by an aging population remaining in their homes.
Major economic events impacted homeowner mobility. The Great Recession (2007) led to a sharp decline in mobility, with many homeowners losing equity or facing foreclosure. Mobility remained lower than pre-crisis levels afterward. More recently, the COVID-19 pandemic initially saw increased homeownership and moving activity due to low interest rates and remote work. However, subsequent mortgage rate increases have contributed to a slight flattening or decrease in average tenure from its 2020 peak, as the “lock-in effect” became more pronounced.