[ad_1]
Americans keep their homes longer and it costs potential buyers.
The length of time that U.S. homeowners stay put is steadily increasing, which is a big part of why the inventory of homes for sale is at all time low and prices are all-time close.
According to a new analysis from real estate brokerage firm Redfin Corp. lived in the same house for more than 20 years, according to the study.
Home sales skyrocketed last year, reaching their highest level in 14 years as the coronavirus pandemic prompted many Americans to search for a larger home where they could work remotely more easily. This is one of the reasons why the median duration of homeownership stabilized last year.
But concerns about Covid-19 have had the opposite effect on potential sellers. Fear of strangers entering their homes during the pandemic has prompted some people to cancel or delay their plans to list their homes, real estate agents say.
[ad_2]
Source link