The Decade Daydreem
You loved your house when you bought it. You may have thought it was your forever home. But if you suddenly find yourself daydreaming about your next home, you’re not alone. In fact, you’re statistically average according to two recent reports:
- A consumer trends report from the National Association of REALTORS® (NAR®) notes that the median length of home ownership in the U.S. today is 10 years.
- A survey from Realtor.com reports that one in three sellers this year say they want to move because their “home no longer fits their needs.”
The 137-page NAR report identifies the top reasons homeowners are selling in 2023: Desire to be closer to family and friends, desire for a larger or smaller footprint, retirement, job relocation, and change in family situation. All are variations on the same theme: needs change over the course of a decade.
If your situation has changed and you’re ready to move, you have some big advantages right now. It’s still a strong seller’s market in Colorado, so homes that are priced right tend to sell quickly. And even with just a few years of ownership, you likely have equity that can help cover your down payment. Why settle? Your dream home is out there.