The homeowner has stayed in the same place for 12 years, restraining the US housing market.

American homeowners are choosing to settle down long-term, a trend that is driving up housing prices and causing many potential buyers to hesitate. According to a new report released by real estate brokerage company Redfin, as of December last year, the typical homeowner has been living in their home for 12 years, nearly double the median tenure of 20 years ago. High borrowing and relocation costs, along with the wealth accumulated in existing properties, are major reasons why homeowners are "locked in" to their current location. Many are also locked in to low mortgage rates and are unwilling to give up that advantage. In some areas, homeowners stay in their homes for the longest period of time, while in other areas, homeowners sell their homes within a shorter time frame. These data reflect one of many ways in which life has become stagnant. Americans not only stay in the same job longer, but the frequency of moving for new opportunities has also decreased, partly due to a sluggish economy affecting job prospects.