Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Housing News

Home sellers stay close to home, move an average of 18 miles away – report

Staying in homes longer in 2011

The 2011 National Association of Realtors® Profile of Home Buyers and Sellers recently surveyed 5,708 home buyers and sellers and found that although 41 percent of recent buyers are unsure of how long they expect to live in their home, the typical buyer estimated they would live in their home for 15 years, up from an expected 10 years cited in last year’s survey. This increase is likely because of  the demographic makeup and buying habits of home buyers having changed dramatically in the last year which revealed fewer first time buyers and more stable, mature, older, married buyers made up a larger portion of the buyer pool.

This trend is equally true with home sellers, who in 2011 owned their home for 9 years as the median tenure in homes has creeped up in recent years from only 6 years in 2007. Sellers of detached single-family homes which account for the largest share of homes sold, owned their home for a median of 10 years.

How far away did people move?

Most home sellers stay relatively close to the home they are selling, only moving 18 miles away. Sellers in the South moved the farthest distance at 24 miles while sellers in the wast stayed closer to home at an average 17 miles.

Distance moved also varied by age with sellers aged 18 to 34 moving only 12 miles while those over 75 typically moved 46 miles away.

Advertisement. Scroll to continue reading.

Consumers don’t stray too far from home as they have established offline social networks and are rooted in their community, although job relocation was cited as one of the top reasons to move, which gives sellers less control over how far away they move, while house size is another primary driving factor in selling a home this year.

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

17 Comments

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Real Estate Technology

(TECH NEWS) It turns out that Internet of Things, like smart bulbs in homes, are not secure and give up your info - here...

Real Estate Marketing

(MARKETING) Your fancy, self-animating website might be making people violently ill, even if it is insanely beautiful. Sorry...

Real Estate Marketing

(MARKETING) Conduit is a CRM that does more than CRM, it analyzes your networking data to help you see how to improve your relationships.

Real Estate Corporate

(REAL ESTATE) Zillow has long been a data powerhouse, but a lawsuit about a $150M listing offers a look into listings claims.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.