Home Turnover Rate Reaches Lowest Point in Decades
The home turnover rate is historically low, with just 28 out of every 1,000 homes in the U.S. selling in the first nine months of 2025. According to real estate marketing platform Redfin, that figure represents a turnover rate of 2.77%, which is the lowest recorded since the 1990s and slipping slightly from last year's rate of 2.78%.
Why is turnover so low?
The main reason the declining turnover rate, says the report, is current housing affordability challenges. As costs remain high, many would-be buyers are choosing to take a step back.
Additionally, some homeowners who purchased a home prior to the rise in mortgage rates are choosing to stay put. Currently, more than 70% of homeowners with mortgages have a rate below 5%.
Home turnover is higher in some metros than in others
While turnover rates are low across the U.S., some cities are seeing properties change hands at higher rates. For instance, in Virginia Beach, Va., 35 out of every 1,000 homes were sold in the first nine months. West Palm Beach, Fla., follows with 32.6 sales per every 1,000 homes, while Tampa, Fla., saw 31.2 sales per every 1,000 homes in that time period.
While home sales are down, buyers are still willing to enter the market if the conditions are right
- How to Attract Buyers in a Shifting Housing Market: Builders should focus on practical housing solutions to entice buyers.
- As Affordability Concerns Grow, Homebuyers Shift Their Focus: Buyers are still willing to come to the table if their need for a functional, affordable home is met.