Historically, what it has been is a change in your family situation: You have a baby, you get married, you get divorced your children leave the nest … but right now what we are seeing is people moving to be close to friends and family.
“I think that tenure is super interesting this year, it has upended the trends that we have seen.
Even though tenure is declining, new buyers move in with the intention of staying for longer, according to an NAR survey.
“Possibly not.
NAR notes that home prices have reached record highs, paving the way for sellers to get maximum profits on their sale, typically 100% of list price, but 35% of sales in the past year have been more than original list price.
Because of quickly selling homes, largely from a lack of inventory, potential buyers often make offers on multiple homes before finally having an offer accepted.