Americans Are Owning Their Homes for Shorter Amounts of Time

January 15, 2016

According to the 2014 census, Americans now spend an average of 15.4 years in their houses, nearly two years shorter than they were just a few years ago. In 2012, residents stayed in their homes for an average of 17.1 years.

Bloomberg Business has a few charts and maps breaking down market data. One map shows state-by-state figures on how long people stay in their homes. In West Virginia and Pennsylvania, residents own their homes for an average of 18 years, while turnover rates are much higher in Nevada, Utah, and Florida (less than 13 years).

Other maps show that more than 19 percent of Maryland homeowners have negative equity (compared to the national average of 13.2 percent), and that in New Mexico, houses stay on the market for an average of 372 days.

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