Rocket-backed Redfin finds empty-nest boomers own 28% of US large homes, millennials 16%

Reuters04-02

Rocket-backed Redfin finds empty-nest boomers own 28% of US large homes, millennials 16%

Redfin, Rocket-powered brokerage, flagged mismatch in US housing stock, with empty-nest baby boomers owning 28% of three-bedroom-plus homes versus 16% for millennials with children, based on 2024 Census data.
Report tied constrained supply for younger families to limited downsizing options for older owners, citing shortage of smaller, reasonably priced homes in many markets.
Baby boomer mobility remained low, with 57.8% of baby boomer homeowners holding fully paid-off homes, reducing financial incentive to sell.
Redfin economists projected improving affordability through 2026, with easing mortgage-rate lock-in expected to bring more large homes to market.
Metro data showed millennials with kids held as little as 10.5% of large homes in Los Angeles, while empty-nest boomers reached 31.2% in Memphis.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rocket Companies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202604020830BIZWIRE_USPR_____20260402_BW971600) on April 02, 2026, and is solely responsible for the information contained therein.

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