More choose to stay where they are and renovate, making it harder for renters to enter market
By Laura Kusisto and Christina Rexrode
Despite rising home prices and a growing economy, U.S. homeowners’ mobility rate is stuck at a 30-year low as many opt to stay put rather than move to pursue job opportunities or trade up for more space.
The median duration of owners in their homes in 2017 was 10 years, according to data soon to be released by the National Association of Realtors. That matched last year’s duration, which, along with 2014, was the highest level since the NAR started tracking the data in 1985.
