Data from Redfin shows that the average length of time homeowners in the United States stay in their homes has reached 12 years, the longest period since 2022, compared with 11.8 years in 2024. This trend reflects how homeowners are holding onto their properties due to high mortgage rates and elevated home prices, which have reduced housing supply and intensified competition for first-time buyers.
The report indicates that the longer ownership period represents a structural shift in the housing market. In 2005, the average homeownership tenure was only 6.5 years, but it has increased steadily as the population ages and homeowners become more settled. This is particularly evident among older homeowners, many of whom already secured homes with lower mortgage interest rates.
This prolonged homeownership trend is affecting new buyers by reducing the number of homes available, especially in lower-priced and family housing segments. However, there are signs of potential relief, as mortgage rates have recently fallen to below 6% and price growth has begun to slow.
At the city level, California leads the list for the longest homeownership tenure. The average ownership period in Los Angeles reaches 20 years, followed by San Jose, San Francisco, and San Diego. Meanwhile, cities such as Louisville, Las Vegas, and Charlotte record shorter ownership periods between 8 and 9 years, driven by more affordable prices and stronger investor activity.
