While most homeowners with low mortgage rates say they plan to stay put, surveys suggest lifestyle shifts and affordability concerns may eventually drive more listings.
Most homeowners sitting on sub-6% mortgages aren't going anywhere soon — but the picture isn't entirely bleak for inventory-starved markets.
The lock-in is real. About three-quarters of mortgage holders carry rates below 6%, and they're holding tight. Roughly half are unwilling to give up their rate, and more than a third say nothing would make them walk away. Among those with rates under 3%, that number climbs to more than half. To consider listing, two in five would need rates to drop below 4% — and one in five wouldn't move without rates under 3%.
But some will move. Despite the rate pressure, one in ten surveyed plan to move within two years — drawn by lifestyle changes, downsizing or lower-tax markets. A separate survey found nearly a third of homeowners expect to move within five years. Younger generations are far more mobile: nearly half of Gen Z and millennial homeowners want to move soon, compared to fewer than one in five baby boomers.
Regret is a factor. Buyer remorse may eventually loosen the logjam. About half of all mortgage holders regret their loan terms, rising to three-quarters among those locked into rates above 6%. Among homeowners actively planning a move, two-thirds say they regret their current purchase — with affordability and high rates cited as top reasons.
Source: Clever Real Estate/Best Interest Financial survey; Hippo Housing Forecast 2026
