First-time homebuyers surged in 2020—but now, many are rethinking their choices. Enter the rise of first-time home sellers. To uncover how they’re navigating the market, we surveyed 1,000 first-time home sellers from Gen Z to Baby Boomers who sold or listed in the past year.
With spring selling season here, we’re diving into why they’re selling, whether the idea of a “forever home” is fading, and what matters most to them in the process. (Hint: it’s all about control and convenience.)
Pandemic Moves Are Catching Up: How Sellers Are Adapting
Spring and summer tend to be real estate’s busiest seasons, with nearly 40% of annual sales happening between March and June. But this year, five years post-pandemic, more homeowners may be rethinking their purchases and making a move.
The low-interest rate buying frenzy in 2020 and newfound flexibility with remote work led to a wave of regret—79% of first-time home sellers admit they made mistakes, with 91% saying these errors played a major role in their decision to sell.
Younger generations are the most likely to second-guess their home purchases, realizing what they want and need has evolved: 94% of Gen Z and 86% of Millennials acknowledge pandemic-era buying mistakes, compared to just 48% of Baby Boomers. Gen Z’s top missteps were buying too soon (35%) and moving without considering long-term lifestyle fit (40%).
For Millennials, financial considerations were top of mind—37% underestimated maintenance costs, and 31% overlooked inflation and interest rates. Both groups were also affected by the fleeting nature of remote work (Gen Z 29%, Millennials 23%). Now, they’re ready to course-correct.
Forever Homes vs. “For Now” Homes: How Sellers Are Redefining Their Next Chapter
These regrets could be fueling a shift away from the traditional “forever home” mentality. Once seen as the ultimate goal, it now feels unrealistic for many, especially with changing lifestyles and economic pressures. In fact, 68% of first-time home sellers no longer see it as attainable, and 81% are selling what they once thought would be their lifelong home.
Even though homeowners are staying in their homes longer—about 2.3* years more than those who sold in the past decade, largely due to high home prices and limited inventory—the approach to homeownership has evolved. Many buyers are becoming less focused on permanence and more on finding a home that fits their evolving needs over time.
This shift is particularly pronounced among younger generations. Both Gen Z (38%) and Millennials (39%) view their next home as a smart investment, planning to stay as long as it makes financial sense. Another 27% of Gen Z see it as a stepping stone. In contrast, Gen X (44%) and Baby Boomers (40%) are still holding out for that “forever home.”
So what are first-time home sellers planning to do next? With affordability still a challenge, many are hitting pause altogether: 64% of first-time home sellers aren’t planning to buy right away. Instead, they’ll live with friends or family, rent, or wait for better conditions. This has led to the rise of the home seller “gap year,” a pause or brief hiatus before buying again, a trend particularly embraced by older generations.
Baby Boomers (21%) are seven times more uncertain about their next move than Gen Z (3%). While 40% of Gen Z and 38% of Millennials plan to buy a new home immediately, the next most popular options across generations are waiting for the right market conditions (20%) or renting before buying again (20%). Only 12% are considering moving in with friends or family.
From Gen Z to Boomers: How Sellers Approach Home Sales Differently
As the “forever home” ideal evolves, so do sellers’ expectations of the home-selling process. While 77% of first-time sellers weren’t fully prepared, 63% were most surprised by the effort it took to sell, including staging, showings, and repairs, compared to 37% who were more surprised by the emotional toll.
A common theme? Sellers want more control. 87% wish they could customize the process to better suit their needs. This desire is especially strong among younger generations—nearly 90% of Gen Z, Millennials, and Gen X feel this way, compared to 73% of Baby Boomers.
When it comes to what’s driving sellers to make a move, motivations vary. For Gen Z, it’s the desire for a lifestyle change (30%), like relocating to a new home or neighborhood. Millennials are more focused on major life transitions (30%), such as job relocations or family growth. Meanwhile, around one-third of both Gen X and Baby Boomers are mostly prompted by financial factors, like mortgage rates and home equity.
Selling Stress: Why Convenience is Becoming the Top Priority
No matter the reason for selling, the process is still emotionally draining. In fact, 75% of first-time home sellers report feeling overwhelmed, anxious, or emotionally exhausted. Baby Boomers are least affected, with just 61% feeling this way, while nearly 80% of Gen Z, Millennials, and Gen X experience similar stress.
As emotions run high, convenience is becoming a top priority. More and more sellers are saying that a smoother, more streamlined process matters more than getting the highest price. This shift reflects a desire for simplicity, with many prioritizing ease over financial gain when navigating the market’s complexities.
Over 65% of first-time sellers would accept 20% less for their home to avoid the stress of staging, repairs, and the uncertainty of offers. The average home price in America is $419,200, meaning sellers would trade $83,840 for less hassle. Baby Boomers are the outliers here, with only 38% willing to make that trade-off, compared to 66% of Gen Z, 74% of Millennials, and 68% of Gen X.
For most sellers, the process is more than just a financial transaction—65% say it’s a major life milestone. At Opendoor, we recognize how big of a decision selling your home is. That’s why we’re here to support you every step of the way. Visit our new Seller Hub for the resources, tips, and insights you need to make your sale as smooth and stress-free as possible.
Click here to read the full report.
About the Author
Amit Arora is Opendoor’s Chief Investment Officer, responsible for portfolio management, driving growth, and investments. He plays a pivotal role in shaping Opendoor’s pricing innovation roadmap and advancing the use of AI and machine learning to improve operational efficiency and decision-making.
Since joining Opendoor in 2016, Amit has held leadership roles across general management, business operations, and product management, contributing significantly to the Company’s evolution. Before Opendoor, he held financial roles at Bain Capital and Goldman Sachs.
Amit holds a B.A. in Economics and South Asian Studies from UC Berkeley and an MBA from Harvard Business School.
Methodology: The Opendoor Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 1,000 nationally representative US First-Time Homesellers, defined as those who sold their first home in the past 12 months, or who currently have their first home on the market, between February 21st and March 6th, 2025, using an email invitation and an online survey.
*This stat is based on MLS data from 2010 through 2024 across Opendoor’s 50 markets, analyzing the timeframe of each home transacted and calculating the length of time between its previous close and most recent close. We then averaged the data for each year to show how the trend evolved over the past decade.
