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Moving Out or Staying Put

Few homes are permanent, but in some cities, some homeowners may take longer to leave than others. According to a study conducted by Realtor.com, several cities in the U.S. see their residents stay put for much longer than average, for a variety of reasons. On the other hand, Realtor.com analyzed, which cities see their homeowning residents move out of their properties the quickest.

According to a report by the National Association of Realtors overall, homeowners have been staying in their homes longer in the past decade, going from a median six years at one address in 2008 to a median 10 beginning in 2014.

With an average time between sales of 99 months, the Realtor.com analysis found that El Paso, Texas topped the list of cities where homeowners stayed put the longest. With just a month less on its average time between sales, Albuquerque, New Mexico came in second. The study found that Albuquerque had a mix of lifelong residents and retirees who moved to the city because of the mild winters, dry heat, and affordable home prices.

Oxnard, California came in third, followed by Greensboro, North Carolina, and Philadelphia, Pennsylvania to make up the top five cities where homeowners stayed put the longest.

At the opposite end of the scale was Providence, Rhode Island. Even with a median home price of $350,000, residents are still moving up and out in an average of just 33 months, due in part to a large number of college students and their professors. With an average time between sale of 35 months and a median home list price of $299,800, Cape Coral, Florida was the second city where people moved homes quickly.

Despite low taxes, a business-friendly environment, and a charming downtown, the city of Greenville in South Carolina came third on this list with an average time between sales at 36 months and a median home list price of $200,000.  New Orleans, Louisiana, and Madison, Wisconsin rounded off the five cities where people moved the fastest.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.

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