Infant boomers and Gen Xers are specifically most likely to remain where they are, assisted by paid‑off home loans or monthly payments far listed below what a new buyer would have faced at existing costs and rates.
“High mortgage rates and home rates perpetuate a cycle that locks up real estate inventory,” stated Chen Zhao, Redfin’s head of economics research.
“It can keep existing house owners in place and economically prevent them from relocating to a different home or a various area, which drives costs up even higher for first‑timers trying to burglarize the marketplace. However there is good news: Homebuying cost has enhanced as home mortgage rates have boiled down, dropping listed below 6% for the very first time in over 3 years recently. And home‑price growth has actually lost steam, and we expect it to improve more. That should push more Americans to move.”
California metros underscore extreme tenure gap
Period is longest in California, where Proposal 13’s property‑tax limits continue to reward sitting tight.
In Los Angeles, the mean house owner held a property for twenty years in 2025, up from 19.4 years in 2024 and the longest period among significant metros.