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How Long do Homeowners Stay in Their Homes in Charlotte NC?
How Long do Homeowners Stay in Their Homes in Charlotte NC? Charlotte Home-ownership Tenure Has Increased
Historically homeownership data has reflected that the average Charlotte residents lived in their homes for 4-5 years. With Charlotte being such a large financial, technology and health care city, those jobs tend to involve more relocation needs than others. Hence, the transient nature of Charlotte’s population.
 
However, The Great Recession changed all of that! Those fortunate enough to maintain employment during the recession were absolutely not interested in selling their homes - at all!  This went on for 4+ solid years. Imagine living in a home too small or too large for you for that amount of time.
 
Hence, the National Association of Realtors’ (NAR) historical data on the median tenure of home-ownership (same home) has changed dramatically. As the graph below shows, over the last twenty years (1985-2008), the median tenure (nationally) averaged six years. However, since 2014, that average is almost ten years – an increase of almost 50%.
 
Why the dramatic increase?
While Charlotte’s average is probably two to three years less than the national average, we are still seeing a considerable increase. The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was ... more

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