In a survey of 1,330 homeowners conducted by YouGov for Bankrate.com, six in ten homeowners stated that they have no plans to move, and only 30% indicated that they expect to leave their current home within the next decade.
The survey respondents were almost twice as likely to remodel their current home as they were to move into a new home. Only 19% of home owners said they would be moving within the next five years, while 35% said that they would definitely remodel or upgrade their home in the same time frame.
The survey reflects the state of the housing market in big cities, where a low number of existing homes are available for sale and prices keep rising… Total housing inventory is down 7.2 percent over last year, according to the [National Association of Realtors], and existing-home sales are down 1.2 percent over the same period. New home sales, on the other hand, are up 10.3 percent.Read More