Here are the top five reasons repeat owners want to buy another home:
1. Need larger home
2. Job relocation
3. Live closer to family or friends
4. Change in family situation
Here’s what causes owners to buy sell and buy again: personal financial issues related to employment, quality of the neighborhood and family issues including growth, proximity and divorce. The forces that cause people to buy and sell homes are social, like household formation; job-related like relocation and retirement; and personal.
It’s time we stopped macroeconomic and political tinkering to tweak the real estate economy and focused on creating an economic and political environment that will empower owners, sellers and buyers to succeed.
For more information, visit www.realestateeconomywatch.com.