Redfin Survey: 1 in 3 Baby Boomers Say They'll Never Sell Their Home
1. 33.5% of baby boomers plan to never sell their homes. 2. 30% intend to sell, but not within the next decade.
FAQ
Why Bearish?
Reduced housing turnover suggests less transaction volume, which is crucial for Redfin's revenue. Historically, similar trends in homeowners' reluctance to sell have correlated with declining real estate transaction activities.
How important is it?
The reluctance of significant homeowning demographics to sell directly impacts Redfin's operational model and potential revenue growth through commission fees.
Why Long Term?
Long-term market dynamics may be affected as aging homeowners hold properties, limiting inventory. This trend could affect Redfin's business model centered around brokerage fees from transactions.