For a little over a decade now, the National Association of Realtors has been asking homeowners what their primary reason for selling a previous home was as part of the Home Buyer and Seller survey. Since the question was first asked, the answers have remained fairly steady with minor fluctuations.
In 2015, the main reason for selling a previous home was because it was too small, as 16 percent of people marked that as the impetus to list their home. Job relocation (14 percent), Moving closer to family and friends (13 percent), living in a neighborhood that became less desirable (10 percent), and a change in family situation (10 percent), rounded out the top five reasons for selling a home.
Since the question was first asked in 2005, a home that was too small was the top reason more often than not for people to sell their homes. However, in 2007, 2008, and 2009, the peak of the Great Recession, ‘Job relocation’ was the top reason for selling a home. Moving because of job relocation peaked in 2008 at 22 percent before dropping slightly in 2009 to 21 percent and eventually leveling off in 2010 at 15 percent. It has hovered right around there ever since.
Moving due to retirement has gradually increased from 3 percent in 2005 to 7 percent in 2015. However, for the most part the numbers have remained remarkably steady.
To view the entire list from the survey, click the link below.