Why We Move: For Better Homes? Yes. Jobs? Not So Much
A new study looked into what causes both first-time home buyers and current owners to trade-up.
The National Association of Home Builders examined data from the 2017 American Housing Survey. Conducted by the Census Bureau, the survey questioned recent home buyers and found first-time buyers were more likely to move for a better home (65 percent) than trade-up buyers (49 percent).
About half of both groups said they moved for a better neighborhood.
Among the least common reasons given were for a job (14 percent among all buyers) or shorter commute (12 percent among all buyers).
The median age for recent home buyers — both first time and those trading up — was 40 and the median household income was $86,623.
The data also found that first-time home buyers were more likely to move in order to "form a household" (61 percent) than trade-up buyers (25 percent).