buttons

Monday, August 7, 2017

Are You in the Right House?

How Long Do Most Families Stay in Their Home? The answer to that question has changed in recent years. It used to be an average of 6 years. Since 2008 the average is 9 years. Yes, 9 years or 50% longer than the previous average! There were 2 primary changes which caused the great shift. One, the housing correction caused many folks to go negative in equity - they were stuck! And, the rate of homeownership in young families was lower than the historical norm. A lot of the young folks just stayed home with mom and dad. The result of the slower market means that some families who have grown have not yet had the opportunity to move up to a bigger house. It also means that as the young are now getting out of the family nest, parents may be sitting with a larger then necessary home and unused rooms. So the question becomes - in your personal situation, are you in the right house? For more, have a look at today's report