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Redfin: Boomers aging in place is ‘the driving force’ behind median homeowner tenure doubling since 2005

Empire Appraisal Group

Redfin: Boomers aging in place is ‘the driving force’ behind median homeowner tenure doubling since 2005 Source: [link] Over the past two decades, the median homeowner tenure has jumped from 6.5 In 2005, the median U.S. After climbing every year between 2005 and 2020, U.S. years to 11.9 homeowner tenure was 6.5

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Homeowners are staying in place twice as long as they did 20 years ago: Redfin

Housing Wire

While “homeowner tenure” has fallen slightly since its 2020 peak, the length of time that homeowners are remaining in their properties doubled to 11.9 years in 2005, according to a Redfin analysis of median U.S. housing market for multiple reasons, Redfin said. years last year, up from 6.5

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Uncertain future, forgetting the past

Annarbor Appraisal

Not that long ago, the United States in general experienced a significant decline in property sales prices due to the Great Recession and the mortgage market fallout. In it I included a year over year chart of all sales through the local MLS back to 2005. Houses in blue, condominium units in orange, new construction included.

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NAR Member Survey on Appraisal Data Collectors

Appraisal Today

Very few AMC appraisers today want to do the marketing required or learn how to do them. I have lots and lots of marketing tips in my monthly newsletters. In my high value market, 18% of the sales were cash sales. Add it up and I estimate that 35% of the sales in my market did not require an appraisal. I understand.

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What is Your Appraiser Level? Why Does It Make a Difference?

Appraisal Today

Some local markets and some appraisers are still fairly active. The variance between local markets and individual appraisers is stark. In the early 1990s, my market crashed. In 2005 I finally quit all residential lender work due to the huge ups and downs in business. The experience of appraisers varies widely. Retraction.