12 Worcester Business Journal | January 20, 2020 | wbjournal.com
F O C U S R E A L E S T A T E
Worcester residents rank 10th nationally for the
number of years spent in their homes, creating little
turnover in the real estate market
Hanging onto their properties
BY THOMAS GRILLO
Worcester Business Journal Staff Writer
W
orcester residents
really love their
homes.
In a nationwide
survey of how long
people stay in their houses, Worcester
ranked 10th with an average of 17 years.
at's up from nine years a decade
ago, according to research by Redfin,
the national Seattle-based real estate
brokerage.
Worcester was the only Central
Massachusetts community to make the
Top 55 list. Boston was the only other
Massachusetts city in the rankings.
e Hub placed seventh with 18 years
longevity, up from nine in 2010.
Median home tenure increased in
every city Redfin analyzed. e result
has led to fewer homes available for
first-time homebuyers seeking to end
leasing in favor of building equity.
Homeowners have been in their
homes the longest – for more than 20
years on average – in Salt Lake City,
Houston, Fort Worth, San Antonio,
and Dallas.
Fewer homes on the market
Erika Hall, president of the Realtor
Association of Central Massachusetts,
said no single answer addresses the
complicated question of why Worcester
homeowners stay in place.
But Hall said one of the major
factors is inventory.
Erika Hall, president of the Realtor
Association of Central Massachusetts
