Inventories of homes are tight nationwide. So what’s going to get home owners to finally sell? In a recent survey, realtor.com® researchers found some of the top motivations to sell:
1. Want to be in a different neighborhood (40%)
2. Need a home with different features (28%)
3. Need a bigger home (22%)
4. Want location with better weather, views, or lifestyle (19%)
5. Need to lower cost of living (17%)
Different motivators are more pressing to various age groups. Realtor.com® research found that households between the ages of 35 and 44 tend to be driven by the desire to be in a different neighborhood and have a bigger home. On the other hand, households of those 65 and older are more motivated by retirement and tend to be looking for a home with different features or trying to improve 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 home to purchase,” says Jonathan Smoke, realtor.com®’s chief economist.
Source: “It’s a Great Time to Sell a Home – and to Buy Again,” realtor.com®