According to a study conducted by LendingTree, nearly half of homeowners are planning on moving within this decade. LendingTree surveyed roughly 1,500 homeowners across the US. Also, they asked about the reasoning behind their intent to move. The top three reasons homeowners want to move is to be in an area with lower costs of living, find new job opportunities, and to be closer to their children. Other reasons included retirement, not liking their current area, being in a bigger city, being closer to their parents, and being in an area with better schools. For Millennials, the most cited reason for moving is to be in a larger home. Gen X and Baby Boomers are planning on moving due to retirement.
OTHER TAKEAWAYS FROM THE SURVEY
Results from the survey showed that one in four Millennials are considering going back to renting during this decade. The survey also found that roughly one in ten renters are intending to buy a home in the next decade. A majority of these renters said they want to buy a home in the next two to four years. The second largest group stated they will buy a home in the next six to ten years. One in four renters stated that they will never buy a home.
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