I started to do research and think about what can have an impact on US home inventory. I noticed something that is NOT talked about that much and is NOT in the headline news. The median years we are staying in our home is at an ALL-time high of 13 years! We are living longer, and from age 50 and beyond, we move a lot less than when we are 40 and younger.
When you look at the charts below you can clearly see that we are NOT moving as much since the financial crisis of 2008. We are living much longer and that will only increase due to all the new medical innovations that are out now and TONS more coming. When we get past 50 years old, we barely move. All these factors not helping to get new listings on the market and these data points will most likely keep having a major impact on inventory moving forward. On top of ALL of this, a new study came out that the average rate on a home that has a Fannie/Freddie/FHA/VA is 3.8%, which also is NOT going to motivate people to sell and move.
Do you think us living longer, staying in our houses longer, and having low locked-in rates are going to kill inventory for the foreseeable future?