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69 January 2025 J O U R N A L January 2025 » so having the correct policies in place to assist them in doing so is crucial. BABY BOOMERS STAYING PUT AS YOUNGER GENER- ATIONS GEAR UP TO SELL A ccording to a recent study published by Bright MLS, a large number of homeowners who intend to sell next year purchased their house less than five years ago. Additionally, the study indicates that since baby boomers intend to remain in their current homes, 2025 sellers will probably be younger. Approximately one in five (17.5%) of the 1,581 homeowners polled countrywide between November 19 and 20 indicate they intend to sell their house over the next 12 months. Almost one-third (32.2%) of those potential sellers have been in their house for fewer than five years. According to the study, homeown- ers in their 30s and 40s will be the most active group of sellers in the upcoming months. Of those surveyed, 26.8% of homeowners between the ages of 30 and 39 and 28.0% of those between the ages of 40 and 49 said they wanted to sell within the next 12 months. Only 10.1% of older homeowners are like this. Who and How Many Americans Want to Sell Their Home Next Year? "Record low mortgage rates during the pandemic were a huge incentive for individuals and families to buy a home. Many of these buyers also have been able to quickly accumulate significant equity in their homes as home prices have escalated," said Lisa Sturtevant, Bright MLS Chief Economist. "This wealth gain has created financial security for this group of homeowners and is also allowing them to be move- up buyers even in today's relatively high-interest-rate environment." Many of the homeowners in this category made their purchases during the pandemic. Of those potential sellers in their 30s or 40s, about one-third have been in their current residence for fewer than five years. Career and Family Changes Drive Homeowners to Sell in 2025 The poll results confirm that demographic milestones like marriage, starting a family, and changing careers are still tightly linked to purchasing and selling a property, even though the pandemic upended a lot of the housing market. 36.7% of homeowners between the ages of 30 and 39 who were asked why they intended to sell stated that it was for work-related reasons, such as mov- ing for a new job or changing careers. Another 34.4% stated that they moved for family reasons, such as getting mar- ried, having a kid, getting divorced, or wanting to be nearer to relatives. For homeowners in their 40s, who stated that family changes were the pri- mary reason they intended to sell their house within the next year (43.8%), the priorities were inverted. With 25.8% of homeowners in their 40s citing work-re- lated reasons, this was the second most popular response. Respondents Say "Life Events" Come Before Mortgage Rates Three out of ten (30.3%) homeown- ers in their 30s and 40s who intend to move now have a mortgage with an interest rate of less than 4%, according to the poll. Currently, 67.4%, or more than two-thirds, have a rate below 5%. This implies that "life happens" events take precedence over "rate lock" when it comes to the decision to sell, according to Sturtevant. While U.S. Census Bureau data shows that the ordinary homeowner has been in their home for 12 years, the survey results indicate that the pandemic may have made it possible for some homeowners to move up very rapidly. "Record low mortgage rates during the pandemic were a huge incentive for individuals and families to buy a home. Many of these buyers also have been able to quickly accumulate significant equity in their homes as home prices have escalated." —Lisa Sturtevant, Chief Economist, Bright MLS