Homeowners are staying put longer than ever before

Homeowners are staying in place longer than ever before, despite the growing amount of equity in their homes. A new report from First American a provider of title insurance, settlement services and risk solutions for real estate transactions reveals that the median tenure for homeownership has jumped to 10 years, up 10% from last year. By comparison, the median tenure in the pre-crash days of 2007 was four years, and in the aftermath of the market’s meltdown when many homeowners couldn’t move because they were underwater on their properties the median tenure was seven years.