{"id":12095,"date":"2017-09-06T13:08:25","date_gmt":"2017-09-06T13:08:25","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=12095"},"modified":"2017-09-06T13:08:26","modified_gmt":"2017-09-06T13:08:26","slug":"homeowners-stuck-starter-homes","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/homeowners-stuck-starter-homes\/","title":{"rendered":"Homeowners \u2018Stuck\u2019 In Starter Homes"},"content":{"rendered":"

Homeowners \u2018Stuck\u2019 In Starter Homes<\/h1>\n
\"Homeowners<\/a>

Homeowners \u2018Stuck\u2019 In Starter Homes<\/p><\/div>\n

Prior to the housing crisis, many consumers were in the mindset of buying a \u201cstarter home\u201d to stay in for five or six years and then move on to a larger space as their family grew. But the idea of the starter home has become a fading memory.<\/p>\n

Homeowners don\u2019t want to give up their ultralow mortgage interest rates that they have secured in recent years. They\u2019re also finding fewer larger homes to move into. As a result, many are\u00a0making the best of what they once pictured as their \u201cstarter home.\u201d<\/p>\n

The percentage of homeowners moving up to their next home is at the lowest average in 25 years, Todd Tomalak, vice president of research for John Burns Real Estate Consulting, told the Chicago Tribune<\/em>.<\/p>\n

The stay-put mindset is leaving fewer homes available for sale and prompting home prices to surge due to the short supplies, Tomalak says.<\/p>\n

\u201cWe\u2019ve never seen this in any prior cycle,\u201d he says.<\/p>\n

Home buyers stayed in their homes an average of six years before selling from 1987 to 2008, according to the National Association of REALTORS\u00ae. Since 2010, the number of years homeowners are staying has now jumped to around 15 years.<\/p>\n

\u201cA generation is stuck in starter homes,\u201d Urban Institute researchers wrote in a July report. First-time home buying has rebounded since the housing crisis, but repeat buying remains sluggish, the report notes.<\/p>\n

Meanwhile, the home remodeling business is surging. Last year, homeowners spent about $320 billion on remodeling, a 5 percent increase over the prior year, Tomalak says. Remodeling is expected to top $350 billion this year, a 9 percent increase.<\/p>\n

Source: \u201cWhy Americans Are Shunning New Homes and Opting to Stay Put, Renovate Instead,\u201d The Chicago Tribune (Aug. 24, 2017)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Homeowners \u2018Stuck\u2019 In Starter Homes Prior to the housing crisis, many consumers were in the mindset of buying a \u201cstarter home\u201d to stay in for five or six years and then move on to a larger space as their family grew. But the idea of the starter home has become a fading memory. Homeowners don\u2019t … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-12095","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHomeowners \u2018Stuck\u2019 In Starter Homes - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/homeowners-stuck-starter-homes\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowners-stuck-starter-homes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowners-stuck-starter-homes\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Homeowners \u2018Stuck\u2019 In Starter Homes\",\"datePublished\":\"2017-09-06T13:08:25+00:00\",\"dateModified\":\"2017-09-06T13:08:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowners-stuck-starter-homes\\\/\"},\"wordCount\":304,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowners-stuck-starter-homes\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2017\\\/09\\\/09062017.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowners-stuck-starter-homes\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/homeowners-stuck-starter-homes\\\/\",\"name\":\"Homeowners \u2018Stuck\u2019 In Starter Homes - 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