((NewsPresent -Over-third of the baby boomers who own their houses claim that they would never sell thatM, m, According to a redfin-interrupted survey.
The survey also showed that a further 30% indicate that you will end up in your house for a decade, but are ready to sell. Those who are older (the cynical generation) are less liked to sell their houses and 44.6% say that they are never done.
However, younger homeowers are compared to the spectrum. 21% of the millennials/gene cerse and 25% of the authenticity stated that they had their houses.
Many Baby Boomers Ave Ave Abbentivisive Sellen: Survey
These results reflect these results the fact that many baby boomers have the financial intention that is normally required to sell a house. In addition, many older homeowners have lived in the same house for a while and prefer to stay where they are.
Around 67% of the baby boomers in the study had lived in their houses for at least 16 years. Fifty percent of the baby boomers stated that they like their houses and have no reason for motion, which is the most common reason why they remained.
Other frequent reasons were:
- Your house is paid almost or completely: 30%
- Today’s real estate prices are too high: 16%
- You don’t want to give up low mortgage: 8%
Real estate prices have risen by about 40%since Covid: Redfin
Real estate prices have increased. Mortglary interest close to 7%. That has increased from 4% before pandemic. Currently, 31% of baby boomers stated that they could be in a house in a neighborhood in today’s economy.
This reasoning also makes it more difficult for younger Americans to find houses. 88% of the houses that belong to baby boomers are single -family houses that are also not a whole family. Only 5% are condominiums and 4% are city houses.
A Redfin Anlysis in 2024 showed that it likes more to like larger houses, although millennials and gen z homowers who live at home have only 4% of baby boomers.
Redfin Chief Economist Daryl Fairweather Said: “Since Baby Boomer decided on the age of aging instead of selling, it is a challenge for you younger buyers to find affordable options that fit a different lifestyle. Say that you are not planning to sell your houses.
Many millennials, genes will not buy houses soon: Redfin
The study also showed that around 25% of the millions and genes buy a house if they could be on them. Other reasons are:
- Are not financially prepared for surprise costs: 23%
- High beats: 20%
- Unable to save for a deposit: 18%
At least supplies have expired, with almost 500,000 more home sellers than buyers on the current market. According to Redfin. Redfin economists believe that Real estate prices will fall Up to 1% by the end of 2025.
This survey was commissioned by Redfin and carried out by Ipsos in May. Around 4,000 inhabitants were involved in the survey.