My trusty spreadsheet reviewed home transaction data from Attom tracking last year’s sales by length of ownership, price sold, and profits – the difference between sale and purchase price. The focus was on the 50 most-populated metro areas, including eight California markets.The home-selling industry seems quite upset that homeowners aren’t moving like they once did. Ownership lengths have essentially doubled in the past two decades, and transaction levels tumbled to historic lows in 2023.
So you see, the growing length of ownership was happening long before historically cheap mortgages. It’s a similar tale nationwide. Plus, there’s that pride of ownership that comes with lengthy stays. If you’ve owned a home for a decade or more – you’ve likely upgraded it. So you’ve got financial and emotional ties to the place.