{"id":798370,"date":"2025-01-07T08:04:15","date_gmt":"2025-01-07T13:04:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-survey-more-than-one-third-of-homeowners-say-theyll-never-sell\/"},"modified":"2025-01-07T08:04:15","modified_gmt":"2025-01-07T13:04:15","slug":"redfin-survey-more-than-one-third-of-homeowners-say-theyll-never-sell","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-survey-more-than-one-third-of-homeowners-say-theyll-never-sell\/","title":{"rendered":"Redfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell"},"content":{"rendered":"

<\/p>\n

Redfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell<\/b><\/p>\n

Many homeowners are staying put because today\u2019s housing costs are so high<\/i><\/p>\n

SEATTLE–(BUSINESS WIRE<\/a>)–
\n(NASDAQ: RDFN) \u2014 More than one-third (34%) of U.S. homeowners say they\u2019ll never sell their home, and another 27% say they wouldn\u2019t consider selling for at least 10 years. That\u2019s according to a new survey<\/a> commissioned by Redfin (redfin.com), the technology-powered real estate brokerage.<\/p>\n

\nRoughly one-quarter (24%) of homebuyers plan to sell in five to 10 years, while just 8% plan to sell in three to five years and 7% within the next three years.<\/p>\n

\nBroken down by generation, older homeowners are more likely than their younger counterparts to say they\u2019ll never sell. More than two of every five (43%) baby boomer homeowners say they\u2019ll never sell, compared to 34% of Gen X owners and 28% of millennial\/Gen Z owners.<\/p>\n

\nThe fact that the lion\u2019s share of homeowners say they\u2019ll never sell is one reason new listings are below pre-pandemic levels in much of the country, though listings have started ticking up in recent months<\/a>. A recent Redfin analysis<\/a> found that just 25 of every 1,000 U.S. homes changed hands in the first eight months of 2024, the lowest turnover rate in decades.<\/p>\n

Homeowners are staying put because their home is paid off, or they just don\u2019t want to move<\/b><\/p>\n

\nNearly two in five (39%) homeowners who don\u2019t plan to sell anytime soon say it\u2019s because their home is almost or completely paid off, making that the most commonly cited reason. Homeowners who have paid off their mortgage are motivated to stay put because it means they own their home free and clear, and get to live there while paying only for things like property taxes and HOA fees. Almost as many respondents (37%) said they\u2019re not selling because they simply like their home and have no reason to move.<\/p>\n

\nAffordability is another major reason homeowners are hesitant to sell. Nearly one-third (30%) of respondents said they\u2019re staying in their current home because today\u2019s home prices are too high, and 18% don\u2019t want<\/a> to give up their low mortgage rate. This survey question was asked to respondents who have owned their home for at least six years and have no intention of selling within the next five years.<\/p>\n

\nHousing costs have risen significantly since before the pandemic; home prices are up roughly 40% since then, and the weekly average mortgage rate is 6.91%, up from just under 4% in 2019. A recent Redfin analysis<\/a> found that more than 85% of U.S. homeowners with mortgages have an interest rate below 6%.<\/p>\n

\n\u201cThe just-because movers\u2014those who just want a bigger or nicer house\u2014are staying put, mostly because it\u2019s so expensive to buy a new house,\u201d said Marije Kruythoff<\/a>, a Redfin Premier<\/a> agent in Los Angeles. \u201cThe people who are selling are doing so because they need to. Either they\u2019re relocating to a different part of the country, or they\u2019re moving due to a major life event like having a baby or taking a new job on the opposite side of the city.\u201d<\/p>\n

\nThis is according to a Redfin-commissioned survey conducted by Ipsos in September 2024. The survey was fielded to 1,802 U.S. residents aged 18-65.<\/p>\n

\nTo view the full report, including charts and additional methodology, please visit:
\n
https:\/\/www.redfin.com\/news\/survey-homeowners-reasons-to-not-sell<\/a><\/p>\n

About Redfin<\/b><\/p>\n

\nRedfin (www.redfin.com<\/a>) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country’s #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we’ve saved customers more than $1.6 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.<\/p>\n

\nRedfin\u2019s subsidiaries and affiliated brands include: Bay Equity Home Loans\u00ae, Rent.\u2122, Apartment Guide\u00ae, Title Forward\u00ae and WalkScore\u00ae.<\/p>\n

\nFor more information or to contact a local Redfin real estate agent, visit www.redfin.com<\/a>. To learn about housing market trends and download data, visit the Redfin Data Center<\/a>. To be added to Redfin’s press release distribution list, email press@redfin.com<\/a>. To view Redfin’s press center, click here<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250107795941\/en\/<\/a><\/span><\/p>\n

\nContact Redfin
\n
Redfin Journalist Services:
\n
Kenneth Applewhaite
\n
press@redfin.com<\/a><\/p>\n

KEYWORDS:<\/b> Washington United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Technology Residential Building & Real Estate Finance Construction & Property Internet<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Redfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell Many homeowners are staying put because today\u2019s housing costs are so high SEATTLE–(BUSINESS WIRE)– (NASDAQ: RDFN) \u2014 More than one-third (34%) of U.S. homeowners say they\u2019ll never sell their home, and another 27% say they wouldn\u2019t consider selling for at least 10 years. That\u2019s according to a new survey commissioned by Redfin (redfin.com), the technology-powered real estate brokerage. Roughly one-quarter (24%) of homebuyers plan to sell in five to 10 years, while just 8% plan to sell in three to five years and 7% within the next three years. Broken down by generation, older homeowners are more likely than their younger counterparts to say they\u2019ll never sell. More than … <\/p>\n

Continue reading “Redfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-798370","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRedfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-survey-more-than-one-third-of-homeowners-say-theyll-never-sell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Redfin Survey: More Than One-Third of Homeowners Say They\u2019ll Never Sell Many homeowners are staying put because today\u2019s housing costs are so high SEATTLE–(BUSINESS WIRE)– (NASDAQ: RDFN) \u2014 More than one-third (34%) of U.S. homeowners say they\u2019ll never sell their home, and another 27% say they wouldn\u2019t consider selling for at least 10 years. That\u2019s according to a new survey commissioned by Redfin (redfin.com), the technology-powered real estate brokerage. Roughly one-quarter (24%) of homebuyers plan to sell in five to 10 years, while just 8% plan to sell in three to five years and 7% within the next three years. Broken down by generation, older homeowners are more likely than their younger counterparts to say they\u2019ll never sell. 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