Homeownership Tenure Hits Record High, Housing Market Remains Constrained
U.S. Homeowners are staying in their homes longer than they have in at least 25 years, a trend largely fueled by historically low mortgage rates. This extended tenure, coupled with persistently high home prices and limited inventory, is effectively putting the housing market on hold, according to new data.
Sellers who changed hands in the fourth quarter of 2025 had owned their homes for an average of 8.6 years – a record in data stretching back to the year 2000, when the average ownership period was just 4.2 years.
The increase in homeowner tenure has been consistent across nearly all major metropolitan areas over the past two decades, according to ATTOM, an industry data provider. “The trend is especially pronounced in coastal and Northeast metros, where tenure often exceeds a decade, while many Sun Belt and Midwest markets continue to see comparatively shorter ownership periods,” said Rob Barber, CEO of ATTOM.
Specifically, homes in Barnstable, Massachusetts (14.1 years), Springfield, Massachusetts (13.5 years), and New Haven, Connecticut (13.4 years) saw the longest average ownership among metros with at least 200,000 residents before being sold in Q4 2025.
The largest increases in tenure from the prior year were observed in Merced, California (+34% to 12.5 years), Lakeland, Florida (+18% to 8.3 years), and Chattanooga, Tennessee (+17% to 8 years).
Conversely, Provo, Utah (6.9 years), Crestview, Florida (7 years), and Oklahoma City (7.3 years) reported the shortest average ownership periods.
According to Barber, “markets with historically longer or shorter ownership cycles have largely stayed that way, even as tenure has increased overall.” This suggests that regional differences in housing dynamics are persisting despite the broader national trend.
However, some of the factors keeping homeowners in place may be beginning to shift. A recent analysis by Realtor.com found that for the first time since 2020, the proportion of U.S. Homeowners with mortgage rates of 6% or higher now exceeds those with rates below 3%. This could potentially loosen the “golden handcuffs” – the disincentive to sell when a homeowner has a significantly lower mortgage rate than current market rates – and encourage more homes to come onto the market.
