Typical US Homeowners Stay 12 Years In Their Homes – 20 Years In Los Angeles

Authored by Mary Prenon via The Epoch Times (emphasis ours),

U.S. homeowners stayed in their houses for about 12 years as of 2025—the longest median time since 2022.

In a March 4 report, Redfin noted that the “stay put” trend peaked at 13.4 years in 2020, then gradually declined every year until 2024, when it hit 11.8 years. Last year’s rising home costs and interest rates led to an uptick to 12 years.

“High mortgage rates and home prices perpetuate a cycle that locks up housing inventory,” Redfin’s head of economics research, Chen Zhao, said in the report.

“It can keep existing homeowners in place and financially discourage them from moving to a different home or a different neighborhood, which drives prices up even higher for first-timers trying to break into the market.”

However, Zhao noted that there has been a slight improvement in housing affordability as interest rates recently dipped below 6 percent for the first time in more than three years. Freddie Mac reported the average rate as of Feb. 26 at 5.98 percent for a 30-year, fixed mortgage and 5.44 percent for a 15-year fixed rate loan.

Still, homeowners are holding onto their houses for almost twice as long as they were in the early 2000s. In 2005, for example, the typical homeowner stayed for just 6.5 years before selling.

Over the next two decades, Americans began to stay longer as the population grew older. Now, the report indicates, baby boomers and Gen Xers may be more likely to want to age in place because of financial incentives such as being mortgage-free or having much lower mortgage payments than new homeowners starting out today. Older generations are also less likely to relocate for a new job or to grow their families.

A 2024 Redfin analysis found that empty-nest baby boomers owned 28 percent of America’s three-bedroom-plus homes—twice as many as millennials with children.

In ultra high-priced regions such as Los Angeles, homeowners stayed in their houses even longer, with an average of 20 years—the longest in the nation. This represents an increase from 19.4 years in 2024. Redfin put the median home price in Los Angeles at $975,000 as of January.

Redfin’s analysis of other major California metro areas shows similar results. In San Jose, homeowners stayed an average of 18.7 years, and in San Francisco, 16.5 years. Median home prices for January in these metros stood at $1.62 million and $1.3 million, respectively.

In San Diego, where the median home price was $970,000, residents spent an average of 14.5 years in their homes. Riverside homeowners stay for about 12.4 years. Median home prices there were reported at $600,000 as of January.

“California’s tax laws incentivize homeowners to stay in their homes for a long time,” the report states.

“Proposition 13, which was adopted in 1978, locks owners into low property taxes, discouraging them from moving and taking on a higher tax rate.”

As a result, the supply of homes is limited and tends to push prices higher.

The report showed that homeowner tenure increased from 2024 to 2025 in 28 of the 41 metros analyzed. Raleigh, North Carolina, and Denver experienced the biggest hikes in tenure during the same period.

Additional metros with home stays surpassing 15 years include Cleveland, New Orleans, Philadelphia, New York City; Memphis, Tennessee; Richmond, Virginia; and Providence, Rhode Island.

At the opposite end, Louisville, Kentucky, had the shortest home tenure of the 41 metros at 8.3 years, followed by Las Vegas at 8.8 years. Charlotte, North Carolina; Tampa and Orlando in Florida, and Nashville all recorded home stays of a little over nine years.

“When home prices are lower, it’s typically easier for homeowners to sell and move on because they’re not taking on an ultra-high mortgage payment on their next house,” the report states.