MADISON, N.J., Sept. 2, 2021 /PRNewswire/ -- ERA® Real Estate, a
global franchising leader within the Realogy family of brands,
announced a new thought leadership report examining how
homeownership tenure affects the industry.
The "Homeownership Tenure and the Impact on the Real Estate
Industry" report draws on observations and insights from ERA
affiliated brokers across the country about how increasing
homeownership tenure has impacted their business in the past, how
they have responded and their views on what may follow in 2021 and
According to the National Association of REALTORS®, until 2019,
homeowners were staying in their homes an average of eight years,
up considerably from 2000 when the average tenure was four years.
But given the market conditions of the past few years,
homeownership tenure could possibly extend to 15 years or more.
The report investigates how the buying frenzy of 2020 may have
impacted tenure rates. Last year, NAR indicated that 5.64 million
people moved, a nearly six percent increase YOY. Many of
those people may have moved outside of traditional life changes
such as marriage, the birth of a child, divorce or retirement,
bucking tenure trends. Understanding how this will play out in
years to come will be critical in future bottom-line success for
Key takeaways based on the experiences of the ERA affiliated
brokers featured in the report:
- Generating supply through innovative seller-focused marketing
is key to capturing more market share.
- Creating connections with feeder markets has kept business
- Tapping into increased demand for multigenerational living has
helped to capture a bigger piece of the pie.
- Cultivating renters through property management has created a
solid pipeline for the future.
- Supporting agents with tailored marketing resources and CRM
support has given them the competitive advantage of extra time to
support existing clients and farm for future ones.
"Homeownership tenure is not a statistic that
is typically tracked when evaluating market conditions, making this
a unique industry report. In looking at homeownership tenure
trends, it is clear that shifts in how long people stay in their
homes impact inventory levels. Despite extreme ebbs and flows in
market dynamics, successful companies are the ones that are able to
balance short-term activity with long-term positioning. As we see
from these ERA affiliated brokers referenced in the report, they
have made strategic changes to their business in response to these
shifts, knowing when and how to adapt continues to be a competitive
Sherry Chris, President &
CEO, ERA® Real Estate
Click here to download the full report.
About ERA Real Estate
At ERA Real Estate, we
don't adapt to change, we create it. We believe that our core
business values of collaboration, innovation, diversity and growth
are needed now more than ever. As a global leader in the
residential real estate industry for more than 40 years, ERA was
the first real estate franchise to expand internationally, the
first to post listings online, and is the only national company
that offers the Sellers Security® Plan program.
The ERA Real Estate network includes more than
36,000 affiliated brokers and independent sales associates and
approximately 2,200 offices throughout the United
States and 31 other countries and territories. ERA
Franchise Systems LLC (www.ERA.com) which operates the
ERA Real Estate system, is a subsidiary of Realogy
Holdings Corp. (NYSE: RLGY), a global provider of real estate
services. ERA Real Estate information is available
View original content to download
SOURCE ERA Real Estate