California Metro Areas Among the Nation’s Lowest in Home Turnover Rate

Seven of the nation’s 10 lowest rates are in California, as high home prices discourage moving and owners who locked in low-interest mortgages stay put.

A home awaits a buyer in Irvine, Calif., on Sept. 21, 2020. John Fredricks/The Epoch Times

Relocations and life changes typically keep the housing market active as people move from house to house.

This year, however, elevated mortgage rates, rising home prices, and economic uncertainty have slowed that turnover significantly, especially in California’s metro areas.