Survey: Most boomers and Gen X don’t plan to downsize

ATLANTA – Apr 17, 2019 – A recent survey by MKM Partners Quantitative Survey Group, commissioned by Del Webb, found that that a majority of younger baby boomers and older Generation X-ers aren’t planning to downsize with their next move.

Of the 57 percent of survey respondents who plan to move in the future, 65 percent prefer their next home to be either the same size (43 percent) or larger (22 percent) than their current home.

A clear majority (71 percent) expects to need more space in their next home, and they prefer a single-family home; 63 percent say they want three or more bedrooms. For Gen X-ers, more space is not so much a luxury but a necessity: 29 percent of the 50-year-olds surveyed said they would design their next home to accommodate aging parents.

“Rather than staying put, today’s 50- and 60-year-olds are thinking ahead to their next big move,” says Jay Mason, vice president of market intelligence for PulteGroup, which owns the Del Webb brand. “While millennials seem to make the headlines, there are over 140 million Generation X and baby boomers in the United States, many with the means, confidence and desire to stay active in the housing market.”

Source:  © 2019 Florida Realtors®

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