Why Do People Sell Their Homes?
Top 5 Reasons For Selling A Home
- Home is too small. 19% of sellers in 2013 decided to make a move to upgrade to a home with more square footage. The majority of people who listed this as their reason for selling were first-time sellers.
- Job relocation. 15% of all sellers in 2013 indicated they had to sell their home due to relocating for work.
- Proximity to family and friends. 13% of sellers put their house on the market because they wanted to move closer to their loved ones.
- A tie between downsizing and a decreased desire in neighborhood. 10% of sellers in 2013 thought their home was too large for their needs and sold their home to downsize to one with less square footage. The same percentage of sellers said their neighborhoods had become less desirable in some way or another, which gave them reason to move.
- Recent change in family situation. 8% of people who sold their home in 2013 did so because something changed within the family. Such changes may include things like the birth of a child, marriage, divorce, or death.
Based on a 2013 study by the National Association of Realtors®