Selling a home can cost nearly $70,000, survey suggests
Homeowners spend an average of about $67,245 when selling their homes, according to a survey released Monday by Clever Real Estate.
That's nearly three times higher than the $18,557 that homeowners said they expected to spend, the survey suggested. Respondents were sellers who have sold a home between 2023 and 2025.
The average total cost was broken down across several categories:
- Repair costs: $21,024
- Commission costs: $14,204 to $27,895
- Closing costs: $8,217
- Concessions: $5,277
- Moving costs: $2,439
- Marketing and staging: $2,393
Sellers reported that closing costs were the most unexpected part of selling their home — and they were also the least useful. In all, 51% of respondents said they made a lower profit on their home than they expected because they had spent so much on the sale.
Gen Z is entering the mortgage market as millennials reign supreme
Nearly 50% of mortgage inquiries across the nation's 50 largest metropolitans came from millennials in 2024, according to a new LendingTree report.
That's about 3% lower share than in 2023 when the age group — made up of borrowers ages 28 to 43 — accounted for more than 52% of such inquiries.
The shift indicates that while millennials could still be the driving force behind the mortgage and housing markets, they're facing challenges in the current interest rate environment, according to Matt Schulz, chief consumer finance analyst at LendingTree.
“Millennials who are already in a home may not want to move if they have a really low rate on their current home,” he said in a statement. “Millennials who don’t have a home yet may not want to dive in because they’re biding their time waiting for rates to fall.”
Furthermore, the generational shift could be due to more Gen Z borrowers entering the housing market as the oldest of that generation turned 27 in 2024.