How long do homeowners stay in their homes?

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The primary theme of this blog is real estate, so let's get started by talking about one aspect of homeownership.  I have lived in my current home for almost 17 years.  I have previously owned homes in two different states.  I lived in one for three years and the other for four years.  Both sales were due to moving out of state for jobs.  

How long does the general public live in their homes? Some things to consider: Homeowners must stay in their primary residence for 2 years out of 5 years to avoid capital gains taxes. (There are other requirements to avoid capital gains taxes so do that research or consult an accountant).  Dave Ramsey (and I'm sure other financial experts) suggest getting a 15 year fixed APR loan.  Would this mean that homeowners tend to stay in their homes longer than 15 years?

According to the National Association of Realtors" (NAR) blog for 2018 stats, homeowners in south Mississippi - Gulfport, Biloxi, Pascagoula area stay around 13 years.  New Orleans/Metairie area stay around 14 years, and Mobile, Alabama are a stay around 15 years.  In 2021 Atlanta homeowners stayed an average of 6.9 years.

So, area might play a role in people staying in a home longer.  What's going on in the world might also play a role.  According to the US Census Bureau 37% of people live in homes longer than 10 years.  In 2005 in was 6.5 years, 2020 that number jumped to 13.4 years, and in 2023 it was down to 11.9.  During the pandemic more people started working from home and homeschooling.  Those homeowners would not need to sell their homes to relocate for work.

How long did you stay in your home(s) and what was the reason for selling? Do you think these numbers will change in the near future? Comments welcome.

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