February 12, 2020
Nearly half of homeowners plan to move to a different house in the next decade, according to online lending marketplace LendingTree’s latest survey. LendingTree commissioned the survey of more than 1,500 Americans to better understand their sentiments around making moves in this new decade, whether buying a home or renting.
The survey found that 45% of homeowners plan to move at some point before 2030, while 22% have no expectations. Of those surveyed, 16% plan to move to a new house in the same location, 15% plan to move to a new city but in their current state, and 15% plan to relocate to a new state completely.
The survey also found that although 26% of millennial homeowners plan to move to a larger house in the next decade, 28% of millennial homeowners plan to return to renting at some point before 2030. Only 11% of current renters are planning to buy a home in 2020, while 25% of renters don’t ever plan to buy a home of their own.
By generation, the top reasons for buying a home include moving to a larger house (26% of millennials), retirement in a new area (19% of Gen Xers), retirement in a new area (26% of baby boomers). Additionally, 35% of baby boomers reported that they have no reason to buy a different house.
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