A new report from Redfin says one third (33.5%) of baby boomers who own their home say they will never sell, with another 30% saying they will sell their home at some point, but not within the next 10 years. As for the younger generations, 25% of Gen X and 21% of millennial/Gen Zers say they will never sell… Subject to change, of course, for all of the above generations, especially as the equity builds.
There are several financial and lifestyle reasons why older Americans are much more likely than younger Americans to stay put. Many baby boomers who own their home don’t have a financial incentive to sell… Additionally, many older homeowners have lived in their home for a long time and simply prefer to stay put…
Click here to read the full report at Redfin.