41% of sellers traded up to a larger home and 32% purchased the same size home.This is an increase from eight years in last year’s report, but reverts back to the same tenure seen in 20. Sellers typically lived in their home for 10 years before selling.For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family ( 21%), moving due to retirement ( 11%), or the neighborhood has become less desirable ( 11%).The typical home seller was 60 years old, an increase from 56 last year.
Home Sellers and Their Selling Experience
Overall, buyers expected to live in their homes for a median of 15 years, while 28% said that they were never moving. The typical home that was recently purchased was 1,800 square feet, had three bedrooms and two bathrooms, and was built in 1986. Buyers typically purchased their homes for 100% of the asking price, with 28% purchasing for more than asking price. Convenience to friends and family and overall affordability of homes were both cited at 37%. For buyers, 49% cited quality of the neighborhood as the most important factor determining the location. 
This is a significant increase in distance moved, as the distance between 20 was a median of 15 miles.
The median distance between the home that recent buyers purchased and the home they moved from was 50 miles. Senior-related housing held steady this year at 7% (for buyers over the age of 60), with 17% of buyers typically purchasing condos and 8% purchasing a townhouse or row house. Detached single-family homes continued to be the most common home type for recent buyers at 79%, followed by mobile or manufactured houses at 8%. Buyers who purchased previously-owned homes were most often considering better price at 31%. Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 41%. 12% of buyers purchased a new home, and 88% of buyers purchased a previously-owned home. For first-time buyers, this number jumps to 62%. At 22%, the primary reason for purchasing a home was the desire to own a home of their own. 22% of recent home buyers were veterans and 1% were active-duty service members. 91% of recent home buyers identified as heterosexual, 2% as gay or lesbian, 2% as bisexual, and 5% preferred not to answer. The share of White/Caucasian buyers and Hispanic/Latino buyers both grew this year, while the share of other racial and ethnic groups declined. 88% of buyers were White/Caucasian, 8% were Hispanic/Latino, 3% were Black/African-American, 2% were Asian/Pacific Islander, and 3% identified as other. 14% of home buyers purchased a multigenerational home, to take care of aging parents, because of children or relatives over the age of 18 moving back home, and for cost-savings. 
Among first-time buyers, 18% of buyers were unmarried couples, and 5% were other household compositions. This is the highest share of unmarried couples recorded. 
61% of recent buyers were married couples, 17% were single females, 9% were single males, and 10% were unmarried couples.The typical first-time buyer was 36 years old this year, rising from 33 last year, while the typical repeat buyer age climbed to 59 years.This is the lowest share of first-time buyers since the data collection began. First-time buyers made up 26%, down from last year's 34%.
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