Posted To: Pipeline Press

A new analysis from the real estate brokerage firm Redfin shows the typical homeowner in the United States now stays in their house for 13 years, five years more than they did in 2010. This lack of movement, especially among aging baby boomers, has helped create inventory shortages and pushed up prices. Salt Lake City, Fort Worth, Houston, San Antonio, and Dallas are the cities with the longest median homeowner stays, all more than two decades . [Insert joke about large families, or no one else wanting to live there, here.] Real estate agents are nervously watching the way house transactions occur, more and more without their 6% commission. For example, one recent entrant is Offerpad , one of the original iBuyers, or instant buyers of homes, currently operating in a dozen metros nationwide…(read more)

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Source: Mortgage News Daily