As any prospective homebuyer can tell you, it’s hard to find a house right now that you can call your own.
One key reason: low inventory. Nationwide, an unprecedented number of homeowners are choosing to stay put. As of December 2024, only about 1.15 million homes were on the market — far below the 2.25 million normally seen at year-end.
So why are homeowners digging in?
1. No Reason to Move
Nearly 40% of homeowners say their home is either paid off or close to being paid off. With no debt and no urgency, many simply have no incentive to sell2. Economic Concerns
Many homeowners are wary of trading up in today’s expensive market. 30% say other homes are priced too high, while 18% don’t want to give up their locked-in low interest rates.3. Aging in Place
According to Fannie Mae, 56% of homeowners aged 60+ have no intention of selling. Emotional connections, accessibility upgrades, and community ties make moving unlikely for many older owners.4. Upgrades and Enhancements
More than half of homeowners surveyed in 2024 said they’ve made functional changes to their homes that make it even harder to leave. From renovations to deeper emotional roots, many are doubling down on the home they already have.Frustrated by the Lack of Inventory?
If you’re struggling to find the right home in today’s low-inventory market, we can help — our referral partner agents post thousands of listings every day in every major U.S. market.