0957 ET - Redfin reports that 34% of U.S. homeowners will never sell their home, with 27% not selling for at least 10 years. By generation, 43% of baby boomers, 34% of Gen X, and 28% of millennial/Gen Z homeowners say they'll never sell. Nearly two in five--39%--of homeowners who don't plan to sell anytime soon say it's because their home is almost or completely paid off. Another 37% simply like their homes, with no desire to move. Affordability issues also keep homeowners from selling. The just-because movers--those who just want a bigger or nicer house--are staying put, mostly because it's so expensive to buy a new house, Redfin says. The people who are selling are doing so because they need to.(chris.wack@wsj.com)
(END) Dow Jones Newswires
January 07, 2025 09:57 ET (14:57 GMT)
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