Blog > The Great Stay: Why Homeowners Are Staying Put
<div class="hs-featured-image-wrapper"> <a href="https://blog.altosresearch.com/the-great-stay-why-homeowners-are-staying-put" title="" class="hs-featured-image-link"> <img src="https://blog.altosresearch.com/hubfs/AdobeStock_591311375.jpeg" alt="The Great Stay: Why Homeowners Are Staying Put" class="hs-featured-image" style="width:auto !important; max-width:50%; float:left; margin:0 15px 15px 0;"> </a> </div> <p>About a year ago, I started noticing a parallel between the housing market and the labor market. Unemployment in the country is very low. Everyone has a job. The conventional wisdom for almost three years has been that job market must weaken, unemployment must be rising. But for three years, unemployment has stayed low.<br><br>Normally when unemployment is this low, people are confident that they’ll find a new job and they are much more likely to quit a current gig that isn’t right for them. But an interesting thing has happened in the post-pandemic era. Even though layoff rates are low, the rate at which companies are hiring is also low. As a result, people are quitting their jobs less often. Companies are reluctant to hire more, employees are afraid to quit. No one wants to move. <br><br>Compare that to the housing market. Home owners have a good thing in their cheap mortgages and high equity. Buyers are reluctant to buy. No one wants to move. Over the last decade, Americans were migrating quickly from the high-cost coastal states to the sun belt for cheaper homes. In the last two years, that migration has slowed down and even reversed in some cases. Housing, like jobs, is in what I call ‘The Great Stay’. That has supply and demand implications and also price implications.<br><br>How does ‘The Great Stay’ look right now? Read on.<br><br>Every week Altos Research tracks every home for sale in the country. We analyze all the pricing, supply and demand, and all the changes in that data and we make it available to you before you see it in the traditional channels. If you aren’t using Altos market reports with your clients, your buyers and sellers, now might be the time to step up. Go to <a href="http://altosresearch.com" style="font-weight: bold;">altosresearch.com</a> and book a free consult with our team. Because everyone is worried about what’s happening right now. They need you to help them see clearly. The data we cover here in these national videos is available for every zip code in the US. Join us to dive in.<br><br>I’m Mike Simonsen, I’m the founder of Altos Research. Let’s look at the data for the week of October 14, 2024. <span style="font-weight: bold;">Please refer to the video below for all the charts I mention in this transcript!</span></p> <img src="https://img.chime.me/image/fs/chimeblog/20241016/16/original_7c956c07-4a50-47a9-beb7-41bde9748d67.gif?a=7754956&k=14&r=https%3A%2F%2Fblog.altosresearch.com%2Fthe-great-stay-why-homeowners-are-staying-put&bu=https%253A%252F%252Fblog.altosresearch.com&bvt=rss" alt="" width="1" height="1" style="min-height:1px!important;width:1px!important;border-width:0!important;margin-top:0!important;margin-bottom:0!important;margin-right:0!important;margin-left:0!important;padding-top:0!important;padding-bottom:0!important;padding-right:0!important;padding-left:0!important; ">
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Catherine Abiera - Lumbres, ABR MRP C2EX AHWD
Broker Associate | License ID: EA100089425
Broker Associate License ID: EA100089425