fbpx
22121 Canyon Crest Dr Mission Viejo, CA 92692 +1 949-632-4347

Study: Vegas homeowners don’t get too attached to their homes

Study: Vegas homeowners don't get too attached to their homes

LAS VEGAS (KTNV) — A recent study shows homeowners in Las Vegas are not staying in their homes for too long.

LendingTree, an online company that connects consumers with multiple lenders, said in a report that homeowners in Las Vegas stay in their homes an average of 6.36 years.

This number puts Vegas at the top of the list nationwide for the shortest amount of time.

On average, homeowners have stayed in their houses for about seven years, with a high of 7.54 years in Pittsburgh to that low 6.36 number in Las Vegas.

When it comes to the shortest amount of time, Vegas was followed by Phoenix, Austin, Orlando, Denver, and Jacksonville.

The difference may not seem like much, but according to a company specialist the research revealed a significant difference in home price appreciation that was related to the average tenure.

Also, reduced labor market mobility has led to fewer people leaving their homes and, more recently, higher mortgage rates have locked in many current homeowners, as a mortgage on a new house would mean an even higher interest rate.

[…]  Click here to view original web page at www.ktnv.com

Related articles

5 Weird Reasons You WON’T Get a Mortgage

5 Weird Reasons You WON’T Get a Mortgage

5 Weird Reasons You WON’T Get a Mortgage Getting a mortgage, however, isn’t just about the “do’s”. While they aren’t necessarily “weird,” these commonly overlooked “don’ts” can easily prevent you from being approved, whether you’re planning to buy a house in the coming months or in the process now. Don’t let them cost you […]

Learn More
Need cash? Now you can sell the equity in your home to investors

Need cash? Now You Can Sell the Equity in Your Home to Investors

Greg Hart’s home in Thousand Oaks, California There is a new way to take cash out of your home with no monthly payments and no interest. It’s not a loan. It’s not a mortgage. It is a contract with an investor who wants to purchase some of your home equity […]

Learn More
Can You (Truly) Afford Your Home?

Can You (Truly) Afford Your Home?

Here’s a Catch-22: As we know, the housing market in 2008 took a major downturn, and many Americans quickly discovered that their mortgage balances exceeded what their homes were worth. In other words, they were “underwater.” The sliver of hope for most households was that the economy would improve, boosting […]

Learn More

Leave a Reply

Your email address will not be published.