When Will The Baby Boomers Sell?

Baby Boomers won’t be moving out of their homes when they retire, according to a recent study by non-profit Demand Institute. A historically high percentage (63%) of Baby Boomers plan to continue living in their current home, instead of selling and moving to a warmer location or downsizing to a condo.

Why aren’t Boomers interested in selling? The recession is being blamed for much of it. The average household net worth for a 50-69 year old is just $143,000 — down from $200,000 in 2007 according to the Federal Reserve. Additionally, Boomers are carrying more mortgage debt than years past.