Why do sellers sell? Top five reasons
Desire to be in a different neighborhood (40%)
Have to have a home with some other features (28%)
Require a bigger home (22%)
Want location with better weather, views, or lifestyle (19%)
Really need to lower cost of living (17%)
However, different needs motivate different age groups. Households between the ages of 35 and 44 are typically driven by the need to be in a different neighborhood and have a bigger home. On the other hand, households of people 65 and older tend to be more motivated by retirement. They tend to want a house with different features or an element that could enhance their weather, views or lifestyle.
However, “the biggest factors standing in the way of today’s sellers are time, making necessary improvements in their existing home in order to sell, and finding a replacement house to purchase,” says Jonathan Smoke, realtor.com’s chief economist.
