Folks use to sell their homes because it was too small but now it is for job relocation. Please read the following article just published by the National Association of Realtors from its recent home survey findings. It talks about how long we keep our homes before selling it as well. The reason this may be important information as to future trends in home selling is that if jobs pick up more folks may have to relocate and buy another home, that creates a demand for your home. Something to think about.
Posted: 25 Jan 2012 12:16 PM PST
- § 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.