Trends in Home buyers and sellers in 2010

The National Association of REALTORS surveys home buyers and sellers annually to gather current information about current trends in the home buying and selling process. The latest 2010 NAR profile of Home buyers and sellers was released in November. Here are some interesting findings:

• married couples account for 3/4 of the sellers.
• median age of home sellers was 49 years old.
• a typical home seller has owned their home for 8 years, this is up from 7 years in 2009.
• Selling a home because it was too small (move up buyers) was the motivation for 21 % of the recent sellers. Job relocation was the second most cited reason to sell at 15 %.
• Among the sellers in the 55 years and older, moving closer to family and friends was the main reason for the move.

information from Real Estate Insights, December 2010 issue.