Apr 3, 2024 - Real Estate

New Orleans homeowners staying put longer than national average

Data: Redfin analysis of parish and county records; Note: National data calculations exclude Utah and Texas as well as Kansas City, St. Louis, Indianapolis and Boston due to insufficient county records; Chart: Axios Visuals
Data: Redfin analysis of parish and county records; Note: National data calculations exclude Utah and Texas as well as Kansas City, St. Louis, Indianapolis and Boston due to insufficient county records; Chart: Axios Visuals

The typical New Orleans homeowner has spent 15.6 years in their home, up 40% from a decade ago, according to a recent Redfin analysis of parish records.

Why it matters: Homeowners staying put is one reason there's a shortage of houses on the market across the country.

State of play: Homeowners nationally are holding onto their homes nearly twice as long as they did in 2005, analysts found.

By the numbers: The median homeowner tenure nationally is 11.9 years.

  • In New Orleans, the 2013 median was 11.1 years. In 2023, it went up to 15.6 years.

Median homeowner tenure is longest in Los Angeles and shortest in Louisville, Kentucky, per the analysis.

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