Homeowners Hold Properties Longer as High Rates Freeze Housing Turnover

Extended ownership periods signal continued stagnation in the U.S. housing market as elevated borrowing costs and tight supply limit mobility.

By yourNEWS Media Newsroom

Homeowners across the United States are remaining in their homes longer before selling, a trend that underscores persistent frictions in the housing market and a slowdown in transaction activity.

According to new data from ATTOM, sellers in the fourth quarter of 2025 owned their homes for an average of 8.55 years, keeping tenure near the longest levels recorded in at least a quarter century. The extended holding period reflects a market constrained by elevated mortgage rates, limited inventory, and high home prices that collectively discourage movement.

Mortgage costs remain a central factor. Rates have been largely unchanged in recent weeks, with Freddie Mac reporting the 30-year fixed mortgage averaging about 6.11%. That stability suggests the market is leveling off rather than entering a sustained rate-cutting cycle that would meaningfully increase homeowner mobility.

Ownership duration varies widely by region. Northeastern and coastal states continue to post the longest tenures, led by Massachusetts at 13.29 years and Connecticut at 13.02 years. California and Rhode Island each exceeded 11 years, while Washington, New Jersey, and Oregon averaged roughly a decade or more.

Shorter ownership periods were more common in parts of the South and Interior West. Georgia, Alabama, Kentucky, and Mississippi generally fell in the six- to seven-year range, while Maine reported the shortest average tenure at 4.8 years. In Michigan, homeowners who sold during the period held their properties for an average of 7.69 years, an increase both quarter over quarter and year over year.

Cash purchases remained a significant share of transactions, accounting for 39.1% of home sales in 2025, essentially unchanged from the prior year. That elevated level points to continued participation by investors and equity-rich buyers even as affordability challenges weigh on mortgage-financed purchases.

ATTOM attributes the prolonged ownership trend to a combination of borrowing costs and structural supply limits. Many homeowners remain locked into low mortgage rates secured earlier in the decade, reducing incentives to sell into a higher-rate environment. Meanwhile, scarce listings and elevated prices continue to narrow options for would-be movers.

Some analysts note early signs that the rate lock-in effect could gradually ease. Realtor.com data cited by Axios shows the share of homeowners carrying mortgages at or above 6% now exceeds those below 3%, suggesting that as loan portfolios reset, mobility pressures may slowly change.