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Why People Are Staying In Their Homes Longer And Its Impact On The Housing Market




A for sale sign stands before property for sale.
A for sale sign stands before property for sale.
FREDERIC J. BROWN/AFP/Getty Images

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Homeowners nationwide on average are staying in their homes longer than they were a decade ago. According to a recent Wall Street Journal article, this can explain why home sales have been stalling

An analysis from real estate brokerage Redfin found that people are staying in their residences five years longer compared to 2010, and for some places it’s even longer. The average homeowner in Dallas is living in their home 13 years longer compared to 2010 and eight years longer in Indianapolis. So, what gives? The reasons behind the increasingly stagnant home-owning population are plentiful, including an aging demographic that’s healthier than ever before. Have you stayed in your home for longer than expected? How come?

Today on AirTalk, we take a look at why people are staying put for a longer period of time and what that means for the housing market. Join the conversation by calling 866-893-5722.

Guests:

Laura Kusisto, reporter covering housing and the economy for the Wall Street Journal; she tweets @LauraKusisto

Dowell Myers, demography professor and director of the Population Dynamics Research Group at USC; he tweets @ProfDowellMyers