According to the 2013 Profile of Home Buyers and Sellers published by the National Association of REALTORS, the demographics of home buyers often shifts to reflect changes in the market, however the motivations for making a home purchase are largely constant from year to year. The primary reason to purchase a home remains the desire to own a home of one’s own. Nearly a third of all home buyers cited this as their reason to purchase a home in 2013.
(image source: 2013 Profile of Home Buyers and Sellers, National Association of REALTORS)
Repeat buyers are less likely to be motivated by the desire to simply own their own home and more likely to make a purchase as a result of changing circumstances: both the desire for a larger home and the need to relocate for a job were most cited. Other popular reasons to buy included the desire to be closer to family and friends, as well as the desire to be in a better area.
Are you looking to start the home buying process? Email us at concierge@lizmoore.com, we'd love to help! Or, click below to download our free Home Buyer's Handbook.
Are you interested in hot real estate topics, tips and trends?
Click below to subscribe to our blog!
