Now that The Great Recession of 2008–2010 has lessened its grip on the country, how are people who own homes responding? After all, that’s what we movers want to know. Are they moving?
The short answer is “not as often,” according to The New York Times, front page, May 15, 2017.
In fact, “median home ownership tenure” rose to 8.5 years in 2016. That’s up from 3.5 years before the Recession in 2008. This is according to data from Moody’s Analytics and First American Financial Corporation. This is happening even though the economy has improved and more people are back at work. Economists think that this trend will continue for the next decade, or even longer, because as the economy improves, mortgage rates rise. As fewer people are moving as often, here’s yet another reason for the need for more quality leads from your website.