{"id":6850,"date":"2017-10-31T00:00:00","date_gmt":"2017-10-31T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/report-average-owner-stays-put-for-10-years\/"},"modified":"2017-10-31T00:00:00","modified_gmt":"2017-10-31T00:00:00","slug":"report-average-owner-stays-put-for-10-years","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/report-average-owner-stays-put-for-10-years\/","title":{"rendered":"Report: Average Owner Stays Put for 10 Years"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n
<\/p>\n

Homeowners continue to delay moving, as the typical seller in 2017 had stayed in his or her home for 10 years before selling\u2014a tie for the record tenure set in 2014, according to the National Association of REALTORS\u00ae\u2019 2017 Profile of Home Buyers and Sellers. Homeowner tenure has steadily increased since 2009, when sellers typically lived in their home for a median of six years before selling.<\/p>\n

Economists speculate that low inventory and soaring home prices are forcing homeowners to stay put longer. Instead, they are choosing to renovate their current homes rather than trade up. But the good news is that homeowners are accruing more equity: The typical seller saw a gain of $47,500 this year, according to NAR\u2019s report.<\/p>\n

Not surprisingly, the longer the homeowner was in the home, the more equity they tended to have. Homes sold after 21 years of ownership saw the largest equity gain, at 104 percent, while homes sold after six or seven years of ownership saw a 27 percent return, according to the report.<\/p>\n

When buyers do move, they tend to trade up to something bigger. Fifty-two percent of sellers say they planned on purchasing a bigger home, an increase from 46 percent in 2016, according to NAR\u2019s report. \u201cThe uptick in repeat buyers trading up to a larger home reflects the more favorable conditions for home shoppers at the upper end of the market, where listings<\/a> are more plentiful and sales have been consistently higher over the past year,\u201d says NAR Chief Economist Lawrence Yun.<\/p>\n

\"\"<\/p>\n

Source: \u201c2017 Profile of Home Buyers and Sellers,\u201d National Association of REALTORS\u00ae (Oct. 30, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Homeowners continue to delay moving, as the typical seller in 2017 had stayed in his or … Report: Average Owner Stays Put for 10 Years<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6851,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,3051,627,127,1007,41,818,479,61],"class_list":["post-6850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-homeowner","tag-homeowners","tag-homes","tag-owners","tag-property","tag-real","tag-realtor","tag-seller"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/2017%20HBS%20Infographic%20-%20Sellers.jpg?fit=1150%2C1854&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3962,"url":"https:\/\/amazingproperty.com.ng\/blog\/home-sellers-are-pocketing-more-money\/","url_meta":{"origin":6850,"position":0},"title":"Home Sellers Are Pocketing More Money","author":"Amazing Property","date":"April 28, 2017","format":false,"excerpt":"Homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase. That represents an average 24 percent of return on the purchase price, which is the highest average price gain for home sellers in terms of both dollars and percent returns since the third quarter\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7992,"url":"https:\/\/amazingproperty.com.ng\/blog\/its-the-best-time-to-sell-in-a-decade\/","url_meta":{"origin":6850,"position":1},"title":"It\u2019s the Best Time to Sell in a Decade","author":"Amazing Property","date":"February 2, 2018","format":false,"excerpt":"Prices are rising and homeowners are staying put longer, and that means more homeowners can cash in when they go to sell. Home seller profits surged to a 10-year high in the fourth quarter of 2017. Sellers saw an average home price gain since purchase of $54,000, up from $47,133\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1 Rss.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/1_rss.png?fit=599%2C586&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/1_rss.png?fit=599%2C586&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/1_rss.png?fit=599%2C586&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11405,"url":"https:\/\/amazingproperty.com.ng\/blog\/turning-owners-into-sellers\/","url_meta":{"origin":6850,"position":2},"title":"Turning Owners Into Sellers","author":"Amazing Property","date":"November 21, 2022","format":false,"excerpt":"Inventory shortages have plagued markets across the country, but a new survey suggests a turnaround may soon begin to break for frustrated buyers who can\u2019t find enough homes for sale. Ten percent of homeowners say they plan to list their home for sale this year, and more than a quarter\u201426%\u2014say\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/04\/2004_DN_ForSaleSign.jpg?fit=1200%2C580&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/04\/2004_DN_ForSaleSign.jpg?fit=1200%2C580&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/04\/2004_DN_ForSaleSign.jpg?fit=1200%2C580&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/04\/2004_DN_ForSaleSign.jpg?fit=1200%2C580&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/04\/2004_DN_ForSaleSign.jpg?fit=1200%2C580&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5546,"url":"https:\/\/amazingproperty.com.ng\/blog\/sellers-net-highest-profit-in-a-decade\/","url_meta":{"origin":6850,"position":3},"title":"Sellers Net Highest Profit in a Decade","author":"Amazing Property","date":"July 31, 2017","format":false,"excerpt":"Home sellers in the second quarter of this year sold their properties for an average $51,000 more than they paid for them when they bought them. 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Homeowners with a mortgage have seen their equity climb nearly\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Equity Jump","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2021\/06\/Equity-Jump.png?fit=1024%2C733&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6740,"url":"https:\/\/amazingproperty.com.ng\/blog\/selling-half-the-winning-real-estate-strategy\/","url_meta":{"origin":6850,"position":5},"title":"Selling: Half The Winning Real Estate Strategy","author":"Amazing Property","date":"October 23, 2017","format":false,"excerpt":"Let's zero in on the family home to reveal room for improvement in ways this investment can be put to work when owners are intent on living full, active lives. 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