Buying a home is a commitment. It’s not something you’re going to do every other year. So, when you’re searching for a home, you have to consider whether or not you can see yourself living there for a while. But how many years does the average homeowner spend in their home? Well, according to new numbers from ATTOM Data Solutions, fewer than before. During the first quarter of this year, homeowners who sold their homes had lived in them for an average of 7.77 years. For comparison, homeownership tenure was found to be anywhere from eight to 13 years between 2018 and 2021. It has also been much lower, falling to about 4.5 years during the early 2000s. In other words, home shoppers should consider whether or not they feel they could live in the homes they see for between five and 10 years, since, most likely, that’s how long they’ll live there. (source)
