More than two in five Americans remodeled their home in the last year, and most did so intentionally instead of moving, according to a new Redfin survey.
More than two in five Americans remodeled their home in the last year, and most did so intentionally instead of moving, according to a new Redfin survey.
About 65% of homeowners who remodeled in the past year said they chose to upgrade their current home rather than move. Among those planning to renovate in the next year, that percentage rises to 71%.
High mortgage rates and soaring home prices are keeping many homeowners in place, a phenomenon known as the “lock-in effect.” Separate Redfin analysis shows that about 80% of homeowners with mortgages have interest rates that are below current market levels, making the transition to mortgage financing uneconomic for most owners.
Young homeowners lead the shift
Young homeowners are driving this trend. Gen Z and Millennial homeowners are more likely than older generations to remodel rather than move, with 77% of each group saying they made improvements rather than moving in the past year. Additionally, homeowners with children at home were more likely to choose remodeling over moving.
“Many Americans are choosing to stay put and make the homes they already have work for them,” said Chen Zhao, head of economic research at Redfin. “Younger homeowners in particular are more likely to renovate rather than jump into another home. They are in the early stages of homeownership and are more willing to invest in improvements that build equity.”
Chen Zhao
Paint, bathrooms and kitchens top the list
Most remodelers kept their spending modest. About 23% spent between $10,000 and $20,000 on improvements, 21% spent between $1,000 and $5,000, and 20% spent between $5,000 and $10,000.
The most common upgrade is a new paint job, cited by 47% of people who recently renovated. This was followed by bathroom improvements (43%) and kitchen renovations (40%). About 15% added features that improve resilience to natural disasters such as floods, wind, fire, and heat.
What it means for agents
The renewal trend reflects broader inventory constraints that distributors are already dealing with. The pool of available sellers remains compressed as the majority of homeowners are locked in low mortgage rates and are choosing to upgrade rather than list. Agents working with buyers may continue to have limited move-in inventory, especially for larger family homes, according to Redfin’s research.
For listing agents, the data presents an opportunity. Homeowners who invest in upgrades are building property value and, in some cases, preparing their homes for eventual sale. Redfin Premier agent Joe Chavez notes that updated homes tend to sell faster and for more money than fix-up homes, suggesting agents can position renovation conversations as part of a long-term listing strategy with current homeowner clients.
The survey was commissioned by Redfin and conducted by Ipsos in November 2025 among 4,000 U.S. residents, with a confidence interval of plus or minus 1.9 percentage points.
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