Home Sellers in 2011

In my last post, I spoke about some statistics gleaned from the National Association of Realtors  2011 Profile of Home Buyers and Sellers Report.  In that report, the demographics of the buyer changed in 2011.  Similarly, the demographics of sellers changed in 2011, as well.

Here's what sellers looked like in 2011:

Characteristics of Home Sellers

• The typical age of home sellers has jumped to 53 from 49 in 2010 and 46 in 2009.
• The share of married couples selling their home also grew to the highest level ever at 77%. From 2004 to 2010 the share of married couples ranged from 71% to 75%. Single females selling accounted for 13% of households, and single males for 6%.
• 66% of home sellers remain in the same state when they purchase their next home. In fact, home sellers tended to stay relatively close when purchasing a home, only moving 18 miles away!
• 46% of recent sellers purchased a home that was larger than the home they just sold, 31% purchased a home that was about the same size, and 23% traded down to a smaller home. 60% of sellers purchased a newer home than the home they recently sold, 20% purchased an older home and 20% purchased a home that was about the same age.