If the housing market feels tight, there’s a good reason.
A new report from Redfin shows that the typical U.S. homeowner now stays in their home for about 12 years before selling. That is nearly double the median tenure from two decades ago, when homeowners typically moved after about 6.5 years.
In other words, Americans simply aren’t moving as often as they used to.
This shift has important implications for housing inventory, affordability, and the experience of buyers and sellers in today’s market.
Let’s take a closer look at what is driving this trend—and what it means for the housing market going forward.
Americans Are Staying in Their Homes Longer
According to Redfin’s analysis of county property records, the median homeowner tenure in the United States reached 12 years in 2025, the longest level since 2022.
While that figure is slightly below the 2020 peak of 13.4 years, it still reflects a major long-term change in housing mobility.
Two decades ago, homeowners moved far more frequently. In 2005, the typical homeowner sold their home after just 6.5 years.
Today, many homeowners are staying nearly twice as long.
This trend is visible across much of the country, though the length of ownership varies widely by metro area. In some expensive coastal markets—especially in California—homeowners hold onto their properties for far longer. For example, the typical homeowner in Los Angeles stays in their home for roughly 20 years.
Why Homeowners Are Staying Put
Several factors are driving longer homeowner tenure.
1. The “Lock-In Effect”
Perhaps the biggest factor is what economists call the mortgage lock-in effect.
During the pandemic, millions of homeowners refinanced or purchased homes when mortgage rates were near historic lows—often around 2% to 3%. Today, mortgage rates are significantly higher.
As a result, many homeowners would face dramatically higher monthly payments if they sold and bought another home.
This creates a powerful incentive to stay put. Economists note that homeowners with ultra-low mortgage rates are reluctant to trade them for a new loan at today’s higher rates, which limits the number of homes available for sale.
In effect, low mortgage rates from previous years have “locked” many homeowners into their current homes.
2. Aging Homeowners
Demographics also play a major role.
The U.S. population is aging, and many Baby Boomers and Gen X homeowners are choosing to age in place. Many of these homeowners have already paid off their mortgages—or carry relatively small monthly payments compared with today’s buyers.
In addition, older homeowners often have fewer reasons to move. They are less likely to relocate for job opportunities or family growth.
As a result, a significant portion of the nation’s housing stock remains in long-term ownership.
3. Limited Housing Supply
Housing supply also contributes to longer tenures.
When fewer homes are available for sale, homeowners may struggle to find a suitable replacement property. In that environment, many people decide to stay in their current home rather than compete for limited inventory.
Ironically, this decision further reduces supply.
Economists describe this as a feedback loop: fewer listings lead to fewer moves, which in turn leads to even fewer listings.
What This Means for Buyers
For homebuyers—especially first-time buyers—longer homeowner tenure can make the market more challenging.
When homeowners stay put longer, fewer homes come onto the market. That reduced inventory can increase competition among buyers and put upward pressure on prices.
Some data highlights the impact:
- Empty-nest Baby Boomers own 28% of U.S. homes with three or more bedrooms, roughly twice as many as Millennials with children.
- Meanwhile, first-time buyers are facing a housing market with historically limited resale inventory.
In short, the housing shortage many buyers feel today is partly the result of homeowners simply moving less often.
What This Means for Sellers
For homeowners considering selling, this environment can actually present an opportunity.
Limited inventory means that well-priced homes often attract strong buyer interest. In many markets, sellers still benefit from reduced competition compared with more balanced housing cycles.
However, sellers also face the same dilemma as other homeowners: Where will they move next?
That question is one of the main reasons many homeowners continue to stay put.
Will This Trend Continue?
The future of homeowner tenure will likely depend on a few key factors:
- Mortgage rates
- Housing supply
- Demographic shifts
If mortgage rates decline meaningfully, the lock-in effect could weaken and more homeowners may decide to move.
Additionally, demographic changes may gradually increase housing turnover. As older homeowners eventually sell or pass homes to heirs, more properties may re-enter the market in the coming decades.
Still, for now, the housing market remains shaped by one simple reality:
Many homeowners are comfortable staying exactly where they are.
Final Thoughts
The housing market is influenced by many forces—interest rates, affordability, demographics, and supply.
Today, one of the most important forces is something much simpler: homeowners are staying in their homes longer than ever before.
With the typical homeowner now remaining in place for about 12 years, housing inventory remains tight, and the ripple effects are felt across the entire market.
For buyers, this means competition for available homes can remain strong. For sellers, it can mean favorable market conditions.
And for anyone watching the housing market, it is a reminder that mobility—or the lack of it—plays a major role in shaping housing supply.
Thinking About Making a Move?
If you’re wondering how current housing trends might affect your plans to buy or sell, you’re not alone. Market dynamics such as limited inventory, mortgage rates, and homeowner tenure can all influence timing and strategy.
Whether you’re considering selling your home, purchasing a property, or simply trying to better understand today’s housing market, having accurate data and local market insight can make a meaningful difference.
If you’d like to discuss the current real estate market in the Reno–Sparks area or Northern Nevada, feel free to reach out.
Guy Johnson, REALTOR®
Lic. # S.0075262.LLC
Keller Williams Group One, Inc.
(775) 722-4011
guyjohnson@kw.com
RenoRealtyBlog.com
I’m always happy to provide market insights, answer questions, or help you evaluate your options in today’s evolving housing market.