Average Homeownership Tenure Increases

Bloomberg writer Alexandre Tanzi reported last week that, “There’s no place like home.

The median length of time Americans have owned their homes rose to a record of more than eight years in the third quarter, according to ATTOM Data Solutions. That’s up from 4.5 years when the recession ended in June 2009.”

“U.S. Homeowners Staying Put as Mortgage Rates Lock Them In,” by Alexandre Tanzi. Bloomberg News (October 27, 2018).

The Bloomberg article added that, “With mortgage costs on the rise, moving will be ‘even less appealing as homeowners may not want to give up their rock-bottom interest rate to buy a new home at the now-higher rates,’ according to Daren Blomquist, senior vice president at the firm.”

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