🏡 Why Homeowners Are Staying Put
A new Redfin report shows that U.S. homeowners are staying in their homes longer than ever before—with the typical homeowner now holding onto their property for nearly 12 years. That’s almost double the average from the early 2000s.
In places like Los Angeles and San Jose, the median homeowner tenure is now pushing 20 years, fueled by a combination of low mortgage rates and California’s Proposition 13, which limits property tax increases. But while California laws and pricing might feel far removed from Arizona, the impact is being felt right here at home.
🔍 What’s Happening in the Arizona Housing Market?
While Arizona doesn’t have a Prop 13-style tax incentive, we are experiencing the side effects of this national trend:
1. Low Inventory
As homeowners across the country (and right here in Arizona) delay moving, the number of homes hitting the market has slowed down. This creates tight inventory—especially in the $300K–$600K range, where many buyers are most active.
2. High Demand Meets Low Supply
More competition and fewer listings mean prices remain elevated. If you’re a first-time buyer or looking to move up, the limited selection makes acting quickly and being pre-approved absolutely critical.
3. Out-of-State Influence
Many California homeowners are taking advantage of their equity and looking to Arizona for more affordable investment properties or retirement homes. This influx adds to demand and limits inventory for local buyers.
4. Mortgage Rate Lock-In
Homeowners who locked in a 3% mortgage rate during the pandemic are understandably hesitant to trade that for a new loan in the 6–7% range. This “rate lock-in effect” is keeping more people in place—even when they might want to move.
đź’ˇ What Can You Do?
Whether you're looking to buy, sell, or invest, the key is having a smart strategy tailored to this unique market.
Here’s how I can help:
✅ First-time buyer? I’ll guide you through the process and help you stand out in a competitive market.
✅ Thinking about selling? Let’s look at your equity and build a plan that works—whether you're upsizing, downsizing, or relocating.
✅ Just curious? No pressure. I’m happy to chat and provide insights based on your goals.
📲 Ready to talk about your next steps? Let’s connect today and build a strategy that works for you in this evolving market.
