Top metro cities where homeowners are staying put because high prices and fierce competition keep them trapped
In certain parts of the country, would-be movers are on pause, choosing to stay in their current homes as the real estate market continues to evolve.
Realtor.com® Economists recently analyzed the fifty largest metro areas and their turnover rates from September 2024 to August 2025 to find the top ten markets with the fewest home sellers.
“Low-turnover markets typically experience tight inventories, intense competition and higher prices as buyers compete for the limited number of available homes,” says Hannah Jonessenior economic research analyst at Realtor.com®.
The lowest-turnover markets tend to be expensive coastal metros, where homeownership has become increasingly out of reach and much of the housing stock is rental inventory, Jones said.
“In these areas, homeowners often stay put to avoid the sharp increase in housing costs that comes with selling and purchasing a new home,” she says.
Top 10 metros with the lowest turnover
Seven of the ten metropolises with the lowest turnover are in coastal areas.
“Major coastal cities like Los Angeles, New York and San Francisco are attracting substantial demand, pushing prices beyond what many households can afford, contributing to high renter shares and limited freedom of movement among existing owners,” says Jones.
Los Angeles-Long Beach-Anaheim, CA
Median list price: $1,099,000
Turnover rate: 17 sales per 1,000 homes
“In Los Angeles, people tend to hold on to real estate because it’s not just a house, it’s a vehicle for long-term wealth,” says Bryce Pennel by The Pennel Group at Douglas Elliman. “Many owners have locked in ultra-low interest rates, and replacing that payment in today’s market often doesn’t make financial sense.”
With inventory in the Los Angeles area extremely tight, “even customers who are ready to move are hesitant because they don’t know where they’ll go,” Pennel says. “The fear of not finding the replacement home is real in Los Angeles right now.”
Buffalo-Cheektowaga, NY
Median list price: $267,450
Turnover rate: 18 sales per 1,000 homes
People flock to Buffalo for its good schools, strong sense of community and proximity to both Canada and Niagara Falls, which are also some of the reasons they don’t leave. Additionally, people often stay in Buffalo because of its affordability and improving job market.
New York-Newark-Jersey City, NY-NJ
Median list price: $762,450
Turnover rate: 18 sales per 1,000 homes
“Reports of a mass exodus from New York City, like this one [those warning of Zohran Mamdani‘s policies]are not accurate,” says New York City real estate agent Michelle Griffith by Douglas Elliman. “The data shows that sales remain low and fewer homeowners are putting their properties on the market. In fact, the market is booming, with strong demand and continued interest from both buyers and renters.”
Griffith says New Yorkers continue to appreciate living in the city for its career opportunities, vibrant neighborhoods, cultural attractions and unparalleled lifestyle.
“The low turnover shows that residents are staying put and underscores the stability and continued appeal of the New York City real estate market,” she added.
Meanwhile, in nearby Jersey City, “the real reason people stay put is because these are some of the best areas to live in, with great services, good school options, and the easiest commutes straight to New York City,” says broker. Michelle Mumoliteam boss with The Mumoli Collective at Compass in Jersey City.
San Jose-Sunnyvale-Santa Clara, CA
Median list price: $1,381,500
Turnover rate: 19 sales per 1,000 homes
San Jose is located in the center of Silicon Valley, home to thousands of technology companies. With today’s high mortgage rates, many homeowners cannot afford to sell and buy another property. Slower hiring and limited job growth elsewhere also make people reluctant to move, keeping them rooted where they are.
San Francisco-Oakland-Fremont, CA
Median list price: $954,500
Turnover rate: 19 sales per 1,000 homes
Real estate agent Ying Heby BarbCo in San Franciscosays the city offers outstanding natural beauty, an exceptional food scene, a vibrant mix of cultural events and a diverse, intellectually rich community.
“But homeowners here need viable options before they can move,” he says. “Many longtime owners here have paid off their mortgages in full or are locked into very low rates – often 2.5% to 3% – which creates little financial incentive to sell. Even for those motivated to move, low inventory and frequent bidding wars make securing a new home a challenge.”
Providence-Warwick, RI-MA
Median list price: $582,450
Turnover rate: 20 sales per 1,000 homes
“Providence and surrounding communities have always been an attractive and more affordable option for many who work in the Boston area and don’t want to pay Boston real estate prices but still want to enjoy coastal city life with great culture, great restaurants and short drives to some of New England’s best beaches,” says Chris Wittenbroker and owner of Premeer Real Estate in Smithfield, RI. “This creates more competition in the housing market, making housing inventory here in Rhode Island our biggest challenge.”
Whitten says that because buildable land is scarce, a large group of buyers are all fighting for the same existing housing stock.
“The lack of inventory, compounded by the fact that many homeowners are holding on to mortgage rates that are half of current rates, and that Providence is often ranked as one of the least affordable cities for renters in the U.S., is causing current homeowners to decide to stay put,” he explains.
San Diego-Chula Vista-Carlsbad, CA
Median list price: $927,000
Turnover rate: 22 sales per 1,000 homes
“People in San Diego are staying in their homes for a combination of reasons. The first is that in the COVID era, most people have refinanced their financing and secured interest rates of 2% to 3%,” says Jessica VanceA San Diego real estate agent. “That, combined with accelerated pricing, makes it a market where many sellers will choose to simply stay where they are.”
Vance has heard from many sellers that they wouldn’t be able to afford the house they live in now if they had to pay current prices and mortgage interest – and that while they would like to move up, this is completely out of reach even for those on double-digit incomes.
“These financial and psychological barriers keep sellers stuck,” she adds.
Boston-Cambridge-Newton, MA-NH
Median list price: $799,900
Turnover rate: 22 sales per 1,000 homes
“The Boston-Cambridge-Newton area has consistently experienced low sales, and this past year was no exception,” says George SarkisCEO of The Sarkis Team at Douglas Elliman in Boston. “We are seeing fewer and fewer homeowners putting their properties on the market, reflecting the strong sense of community, historic charm and stability of the local real estate market.”
Sarkis continues, “Many residents want to stay in their neighborhood because of the excellent schools, easy access to jobs and public transportation, and the vibrant cultural and food scene that make Boston unique.”
Pittsburgh, PA
Median list price: $250,000
Turnover rate: 22 sales per 1,000 homes
“A big part of why people stay in Pittsburgh is the close-knit communities and affordability,” says Pittsburgh real estate agent Jackie Bohdan of Your Town Realty. “Many people grew up on the same streets their grandparents walked, and family traditions run deep. Combine that with Pittsburgh’s pride, an affordable lifestyle and a mix of city amenities, and it’s easy to see why people don’t feel the need to go anywhere else.”
Hartford-West Hartford-East Hartford, CT
Median list price: $439,450
Turnover rate: 25 sales per 1,000 homes
People often stay in Hartford because of its central location, relative affordability compared to nearby New York City and Boston, and growing job market.
In fact, Hartford – known as the “insurance capital of the world” due to its high concentration of insurance companies – ranked eighth in the rankings. LinkedIn’s 2025 survey of the 25 fastest growing U.S. metros for jobs.
