The 2011 Profile reveals that Sellers tend to be older, with a median age of 53 years. That is up from the median of 46 years observed in 2006. Household income is also higher. In the 2011 Profile, the household income of the most recent Sellers was $101,500, up nearly 20 percent from that reported in the 2006 Profile when the median income was just $83,300. Family composition among Sellers has also changed. The share of married couple Sellers rose from 72 percent in 2006 to 77 percent in 2011, while the share of single female Sellers dropped from 17 percent to 13 percent over the same time period.
Another trend that has emerged since the housing market slowed is that home owners are staying in their homes longer than they have in the past. The typical tenure in the home is now nine years, up from six years in 2006. While nine years is the current median tenure in a home, Sellers over the age of 45 remain in their homes upwards of 10 years. Sellers aged 65 to 74 typically sell after living in their home 14 years.
More information about the results from the latest NAR® Profile of Home Buyers and Sellers is available on line. Visit www.realtor.org/research.
Home Seller & Buyers:
Median age 53
77 percent of home buyers and sellers are Married
Average House hold income $101,500
Home ownership average before moving is 9 years.
and for over for ages 65 and older is 14 years.