Boomers aren’t selling: 61% plan to stay put indefinitely

A new survey from Clever Real Estate shows that 61% of baby boomer homeowners say they “never” plan to sell their homes, a jump of 7 percentage points from 2024. The main reason? More than half want to age in place. 

“For years, analysts and experts have wondered when boomers might sell their homes and speculated on what impact it would have when they do. Unfortunately, we’re unlikely to find out anytime soon,” the report states. 

Clever surveyed 1,000 Americans born between 1946 and 1964 on July 18. Three-quarters of them own a home.

The report shows that just 10% of boomers plan to sell within the next five years, down from 15% in 2024, meaning that 90% of the homes owned by this generation won’t hit the market until the 2030s.

Besides wanting to age in place, factors cited by boomers in not selling include having paid off their mortgages (44%), not wanting to start over (36%), planning to leave homes as inheritances (34%) and concerns they can’t afford a new home (30%). Only serious health issues, financial hardships or the loss of a partner would change their minds.

Homeownership remains central to this generation’s identity. Nearly nine in 10 boomers believe buying a home is almost always a good decision and 84% say it represents financial security.

More than 40% consider not owning a home a sign of failure. Also, stability, easier retirement and proximity to family top the list of benefits of owning a home.

A total of 36% of those who do plan to sell want to downsize, while more than one-quarter would move into a retirement home or assisted living facility. Two-thirds expect to make at least $100,000 in profit if they sold today.

When asked about housing affordability, finger-pointing across generations surfaced. 

A majority of boomers (51%) say their generation is “least responsible” for the crisis, while 33% blamed Gen Z, and just 8% each blamed Gen X and millennials. At the same time, 42% said that boomers should lead housing policy efforts.

Meanwhile, 32% of boomers said millennials are most responsible for the affordable housing crisis. In addition, 65% of boomers said younger generations could own a home if they were more responsible.