Latest news with #Redfin-commissioned
The Hill
10 hours ago
- Business
- The Hill
Baby Boomers: 1 in 3 say they'll never sell their home, according to survey
(NewsNation) — Over one-third of baby boomers who own their homes claim they will never sell them, according to a Redfin-commissioned survey. The survey also found that an additional 30% say they will at least hold on to their home for a decade, but are willing to sell. Those who are older (the Silent Generation) are even less likely to sell their homes, with 44.6% saying they never would. Younger homeowners, however, are on the opposite side of the spectrum. 21% of millennials/Gen Zers and 25% of Gen Xers said they would never sell their homes. According to Redfin, these results could reflect the fact that many baby boomers don't have the financial incentive that is typically needed to sell a home. Also, many older homeowners have lived in the same home for a while and prefer to stay where they are. Around 67% of the baby boomers in the study had lived in their homes for at least 16 years. Fifty-five percent of baby boomers said they like their homes and have no reason to move, which is the most common reason they stayed. Other common reasons included: Housing prices are up around 40% since before the COVID-19 pandemic, according to Redfin, with mortgage rates nearing 7%. That's up from around 4% before the pandemic. Currently, 31% of baby boomers said they wouldn't be able to own a home in a neighborhood similar to theirs in today's economy. This reasoning is also making it harder for younger Americans to find homes. 88% of homes owned by Baby Boomers are single-family homes, which also might not be large enough to fit an entire family. Only 5% are condos and 4% are townhomes. An analysis by Redfin in 2024 showed that baby boomers are much more likely to have larger homes, despite most millennials and Gen Z homeowners having minor children living at home, compared to only 4% of Baby Boomers. Redfin Chief Economist Daryl Fairweather said, 'With baby boomers opting to age in place rather than sell, it's challenging for younger buyers to find affordable options that fit their lifestyle. But it's worth noting that even though many older Americans say they're not planning to sell their homes, many are likely to eventually part ways as it becomes harder to live independently and/or keep up with home maintenance.' The study also showed that around 25% of millennials and Gen Zers won't be buying a home anytime soon because they can't afford one where they want to live. Other reasons include: At least supply is up, with nearly 500,000 more home sellers than buyers in the current market, according to Redfin. Redfin economists believe that home prices will decline by 1% by the end of 2025. This survey was commissioned by Redfin and conducted by Ipsos in May. Around 4,000 residents were included in the survey.
Business Wire
12-06-2025
- Business
- Business Wire
Redfin Survey: Americans Are Torn on How Immigration, Tariffs Impact Housing Affordability
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Over half of U.S. homeowners and renters (51.2%) strongly or somewhat agree with the following statement: 'Less immigration will result in fewer construction workers, and thereby fewer new homes, making homes more expensive.' That's according to a new survey commissioned by Redfin ( the technology-powered real estate brokerage. But much of the nation holds the opposite view; 38.5% of homeowners and renters strongly or somewhat agree with this statement: 'Less immigration will reduce demand for housing, making it more affordable.' Democrat respondents were more likely than Republican respondents to agree with the idea that less immigration will make homes more expensive: 67.1% vs 38.7%. These survey findings are from a nationally representative Redfin-commissioned survey of 4,000 U.S. homeowners and renters conducted by Ipsos March 28, 2025-April 28, 2025. The relevant survey question is: 'To what extent do you agree or disagree with the following statements in relation to recent and/or proposed changes to laws or policies that could affect the housing market?' U.S. homeowners and renters are also torn on how tariffs will impact the housing market. Over two-thirds (67.9%) strongly or somewhat agree with the following statement: 'Tariffs will cause price inflation and keep interest rates high.' But over one-third (34.7%) strongly or somewhat agree with this statement: 'Tariffs will help boost the U.S. economy so more people can afford homes.' Republican respondents were more likely than Democrat respondents to agree with the idea that tariffs will help boost the economy so more people can afford homes: 55.3% vs 23.9%. Redfin reported in April that nearly 1 in 4 U.S. residents are canceling plans to make a major purchase, such as a home or a car, because of President Trump's new tariff policies. 43% of U.S. Homeowners and Renters Are Worried About Impact of Tariffs on Housing Market More than 2 in 5 U.S. homeowners and renters (43.1%) feel very or somewhat worried about the effect tariffs could have on their local housing market/home values. Roughly one-third (33.1%) feel very or somewhat hopeful. When it comes to immigration, 40.7% of homeowners and renters feel very or somewhat hopeful about the effect deportations/fewer immigrants could have on the economy, while 26.3% feel very or somewhat worried. To view the full report, including charts and detailed methodology, please visit: About Redfin Redfin ( 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 $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here.
Yahoo
17-04-2025
- Business
- Yahoo
24% of Americans are Scrapping Plans to Make a Major Purchase Like a Home or Car Due to Tariffs: Redfin Survey
55% of respondents are less likely to make a major purchase this year, including 39% who are "much less likely" SEATTLE, April 17, 2025--(BUSINESS WIRE)--(NASDAQ: RDFN) — Nearly one in four (24%) U.S. residents are canceling plans to make a major purchase, such as a home or a car, because of President Trump's new tariff policies, according to a new report from Redfin ( the technology-powered real estate brokerage. An additional one in three (32%) are delaying plans to make a major purchase. That's according to a Redfin-commissioned survey conducted by Ipsos between April 10-14, 2025. The nationally representative survey was fielded to 1,004 U.S. adults. President Trump announced a series of tariff policies in April, including 10% baseline tariffs on all countries and 145% tariffs on China. While even higher tariffs have been paused, the policies have caused volatility in the stock market, and economists are voicing fears they could lead to a significant economic downturn by driving up prices, pushing down consumer confidence and upping the odds of a recession. Nearly one in 10 (9%) survey respondents said they're planning to make a major purchase sooner than expected, while 8% said they already made a major purchase sooner than expected. More than one in three (36%) Democrats said they are canceling plans to make a major purchase, while 43% are delaying a purchase. In comparison, 15% of Republicans are canceling plans for a major purchase, while 21% are delaying a purchase. The new tariffs are likely to impact the housing market in a number of ways. They have already sent mortgage rates on up-and-down swings, and they're likely to significantly increase construction costs. Tariffs and broader economic uncertainty are also pushing down homebuying demand and cutting into buyers' budgets. A Redfin survey found that one in five prospective homebuyers expect to sell stocks to help fund their down payment; recent tariff-driven drops in the stock market could derail those plans for some buyers. "Betting markets have the odds of a recession at higher than 50%, which is understandably making people wary of putting a big chunk of their money toward a house or a car," said Redfin Economics Lead Chen Zhao. "Consumers are tightening their belts because they are rightly nervous about their job security and the prospect of paying more for everyday expenses. There are some potential silver linings for homebuyers: the drop in demand could cause home prices to stay flat, or even fall, and there's some chance mortgage rates could drop in the next few months." 55% of Americans are less likely to make a major purchase this year The prior section discusses a question that asked respondents whether they're canceling, delaying or speeding up major purchases. Redfin also asked whether tariff policies are making people less likely or more likely to make a major purchase this year. More than half (55%) of respondents said the new tariff policies made them less likely to make a major purchase this year. In comparison, only 13% said they are more likely to make a major purchase because of the tariffs. Three in five (60%) of people aged 55+ said the tariffs make them less likely to make a major purchase this year, compared to 54% of people aged 18-34 and 50% of people aged 35-54. On the flipside, nearly one in four (23%) people aged 18-34 said the tariff policies make them more likely to make a major purchase, compared to 15% of people aged 35-54 and 4% of people aged 55+. There were also differences across political lines. Nearly four out of five (79%) Democrats said they were less likely to make a major purchase this year, compared to 32% of Republicans. 34% of Americans do not have an emergency fund to cover housing payments Just over one in three (34%) of survey respondents do not have an emergency fund to cover their monthly mortgage or rent payments in the event they face a financial crisis, like losing a job. Half of the respondents do have an emergency fund. Financial experts typically recommend Americans have an emergency savings account that covers roughly three months of expenses in case they unexpectedly lose their job. Now, amid increasing recession jitters, experts recommend closer to six months in emergency savings. Showing how they may be disproportionately impacted by a financial crisis, more than half of renters (53%) said they don't have an emergency fund, compared to 23% of homeowners. Of those who do have an emergency fund, 56% have 0-6 months of housing payments covered, 14% have 7-12 months covered and 23% have more than 12 months covered. Of the households with children that have an emergency fund, only 12% have more than 12 months of housing payments covered, compared to 29% of households without children. Younger people are also less likely to have a large emergency fund, with only 5% of those aged 18-34 having more than 12 months of payments saved up, compared to 27% of those aged 35-54 and 32% of those aged 55+. To view the full report, including tables with additional survey response data, please visit: About Redfin Redfin ( 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 $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here. View source version on Contacts Contact RedfinRedfin Journalist Services:Isabelle Novakpress@ Sign in to access your portfolio
