Do People Really Downsize? A St. Louis Homeowner's Guide

Most older sellers do not shrink much. NAR data from 2026 shows sellers aged 71 to 79 cut their home size by only about 100 square feet. For St. Louis homeowners, the question is less about size and more about why you would move.

Everyone assumes the next move after the kids leave is a smaller home. I wanted to see whether that is true, so I read the newest research. Investopedia reported in April 2026 on a National Association of Realtors (NAR) study, along with U.S. Census data and a Freddie Mac survey. The answer surprised me, and it changes how I talk with homeowners about this decision.

What the data says

• Same size: boomers aged 61 to 70 who sold a 2,000-square-foot home bought another of the same size between June 2024 and June 2025. Sellers aged 71 to 79 shrank by only about 100 square feet.
• Not the main reason: just 11 percent of buyers aged 61 to 70 said wanting a smaller home was their main reason to move. For buyers aged 81 to 100 it was 18 percent.
• Family and friends: among sellers aged 71 to 79, 41 percent said moving closer to family or friends was their top reason. For sellers aged 80 to 100 it was 43 percent.
• Plans versus reality: a Freddie Mac survey in December 2024 found that two-thirds of boomer homeowners who planned to move said they would downsize. Among boomers who had moved in the previous decade, 36 percent said they had.
• Cash: 39 percent of buyers aged 61 to 70 and 46 percent of buyers aged 71 and older paid cash for their last home, compared with 26 percent of all buyers.

Investopedia also compared Census data for 2014 and 2024. The median home for people aged 55 to 64 in 2014 and for people aged 65 to 74 a decade later both had six rooms and three bedrooms. The homeownership rate for the group rose from 75 percent to 79 percent. One caution: these studies looked at homeowners only, so they miss renters, people moving in with family and people moving to senior living.

Why people keep the space

NAR's Jessica Lautz said buyers often want room to accommodate family at the holidays, or do not want to part with their belongings. Moving late in life can also be costly and stressful. In some areas there are not enough small, affordably priced homes to move into. And many have the equity to buy what they want. Redfin reported in April 2026 that nearly 58 percent of baby boomer homeowners carry no mortgage.

What this means in St. Louis

I made my own move from the suburbs, where I raised my kids for nearly 20 years, to the Central West End (63108), so I talk about this from the inside. For homeowners in Kirkwood (63122), Webster Groves (63119), Chesterfield (63017) and across the St. Louis Metro Area, I do not start with square feet. I start with why you would move.

One St. Louis detail is worth knowing. The City of St. Louis has a senior property tax freeze for homeowners age 62 and older on their primary residence, with a home value cap that was $528,392 in my September 2026 check and an application window of March 1 to June 30. St. Louis County has its own freeze. A homeowner who moves from the county into the city, for example from West County to the Central West End, leaves the county freeze behind and must apply under the city program. Rules and figures change, so check them with the assessor before you decide.

A way to decide

Ask yourself four questions.

• Who visits, and how often?
• What do I want to keep?
• What does this house cost me to keep, in taxes, repairs and upkeep?
• What would I gain by moving, such as being closer to family or having one level?

If the honest answer to the last question is "not much," staying may be right, and the size of the house is not the problem. If the answer is "closer to family" or "no stairs," then the square footage is secondary, and a move may make sense whatever size the next home is. If you are helping a parent with this, start with Does Your Parent's House Still Work for Them? For one example of moving from West County into the city, see downsizing from West County to the Central West End.

What this cannot tell you

• These are national numbers, not St. Louis numbers.
• They cover homeowners only.
• Tax rules, costs and financial choices belong with your tax professional or financial advisor.
• Your own reasons matter more than an average.

Frequently asked questions

Do most people downsize when they retire?
Often not. NAR data reported by Investopedia in April 2026 found that sellers aged 71 to 79 reduced their home size by only about 100 square feet, and only 11 percent of buyers aged 61 to 70 said wanting a smaller home was their main reason to move. The data covers homeowners only.

Why do older homeowners move if not to downsize?
The most common reasons were life events, a household member health need and moving closer to family or friends. Among sellers aged 71 to 79, 41 percent gave moving closer to family or friends as their top reason.

Do older buyers pay cash for their next home?
Many do. NAR found that 39 percent of buyers aged 61 to 70 and 46 percent of buyers aged 71 and older paid cash for their last home, compared with 26 percent of all buyers.

If you are weighing whether to stay or move, send a note to shari@findyourwhaystl.com or visit shariwhay.com. I am glad to talk it through with you, with no pressure to list.