From the National Association of Realtors, here is some insight as to what motivates home sellers.
- The typical seller tenure in home from 2001 to 2008 was 6 years. In 2009, the median years the seller stayed in the home edged up to 7 years. In 2011, the typical seller sold their home after owning it after 9 years.
- Sellers who owned their home for 11 to 15 years, rose from a low of only 10 percent of sellers in 2006 to a high of 18 percent of sellers in 2011.
- The motivations behind selling a home have also changed in recent years. The top reason sellers sold their home in the latest profile was for a job relocation, tied with the home sellers home was too small—accounting for 17 percent of home sellers.
- Five years ago, the number one reason was the home was too small at 19 percent, but job relocation barely was on the radar at just 9 percent of home sellers.
- Among home sellers aged 45 to 54, job relocation out paces reasons to move substantially with 29 percent of home sellers in this age group moving for a job.
- Moving to avoid possibly foreclosure has increased from less than one percent in 2006 to 8 percent of sellers in the 2011 Profile.
- For more information on the Profile of Home Buyers and Sellers, go to: http://www.realtor.org/topics/homebuyers_sellers_profile