I’m curious about the effect on the duration of property ownership that the run-up to the current sub-prime crunch had — said another way, I’m wondering how long people have tended to hold onto their property over the last 20 years. I’m including both personal and commercial property, and I’m not interested in occupancy. Though I suppose an added bonus would be a site that would allow the exploration of ancillary information like the relationship between rental prices, property prices, and property retention.
I can’t tease google into pointing me to the right data, though I’m sure it’s out there…
I have heard the average mortgage is only about 7 years. Whether that means they refinance or move I don’t know.
It used to be 7 years and now it runs 5-7 depending on the area of the country you are speaking about. If you are a REALTOR you can see this information for your area by searching the tax rolls and creating a custom report to show the deed dates. OR you can simply search by deed dates and find the properties that have been off the market for the appropriate time frame-saves postage this way!