Older Buyers Expect Longer Tenure in Homes

One of the things homebuyers think about when preparing to purchase a new abode is how long they expect to be there. This is not only true for first-time buyers who are weighing whether to continue renting or buy, but for buyers of all ages. And while many mortgages last 30-years, homebuyers typically do not stay those full 30 years. But how long do they stay? According to the National Association of REALTORS® 2016 Home Buyer and Seller Generational Trends report, homebuyers between the ages of 61 and 69 expect to stay in their homes the longest when compared to all other age groups, at 20 years. Buyers aged 36-60 and those 70-90 years all expect to stay in the homes they purchase for 15 years, while buyers 35 and younger expect to be in their newly bought homes for 10 years.

Story Springboard

Take a look at NAR’s 2016 Home Buyer and Seller Generational Trends report to see how long homebuyers of all age groups expect to stay in their homes. Talk to REALTORS® in your area to see if your community follows national trends..

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