According to a new LendingTree survey and report, 72% of homeowners “might or definitely will” renovate or make upgrades to their existing homes in 2022, and 37% say they may apply for a home refinance.

Both hybrid and remove workers “definitely” plan to refi, according to the company.  

Who plans to refi in 2022? 

  • More than a quarter (27%) of hybrid workers
  • One out of four remote workers (25%) 
  • Almost a quarter (23%) of parents with children younger than 18

The company also reported on which Americans plan to move in 2022. Here’s a breakdown of those interested in getting on the move: 

  • Gen Zers and millennials (62% and 53%)
  • Remote workers (53%)
  • Renters (52%) 
  • Parents with young children (50%).

Of those who plan to move, a desire for more space, particularly to accommodate the realities of remote work, is the #1 driving force. Others are looking for outdoor space (49%) and a large kitchen (43%).

“Housing supply is expected to increase, putting downward pressure on home and rent growth while giving people a greater selection of housing to choose from,” said Jacob Channel, LendingTree’s senior economic analyst. “We surveyed more than 2,000 U.S. consumers to ask about potential relocation plans, refinancing and — in some cases — renovation aspirations for 2022.”

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