Is It Time To Move on to a New Home?
If you’ve been in your home for longer than five years, you’re not alone states MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . According to recent data from First American , homeowners are staying put much longer than historical averages ( see graph below ): As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure. To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their houses. It says: “People who move for home-related reasons might need a larger home or a house that better fits their needs , . . . Financial reasons for moving include wanting a nicer home, moving to a newer home to avoid making repairs on the old one, or cashing in on existing eq
