Jan
23

Most Homeowners Keep Their Home for 13 Years

January 23, 2013

home buyers packingRecently, we reported that many homeowners get an ‘itch’ to move to a larger home when they turn 35. But, how long do homeowners actually stay in their Chicago real estate before moving again?

According to the National Association of Home Builders, the average U.S. homeowner remains in a single-family home for 13 years before moving out, a decrease from previous years. In 2011, the average homeowner remained in their home for 16 years, and in 2009 the total was 20 years.

This year’s lower number is actually good news because it means people are putting their homes up for sale and they are selling faster and spending less time on the market. After the recession in 2008, many homeowners weren’t willing to take a risk on selling their home, but now that mortgage rates are low and the housing market is beginning to pick up again, both buyers and sellers are taking advantage of these changes.

In Chicago, homes are taking an average of 136 days to sell, which is a decrease from this time last year, when the average home was on sale for 170 days, according to RE/MAX.

On a national level, the median market time for all homes was 70 days in November 2012, compared to 98 days in November 2011.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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