Realtor.com surveyed recent house hunters, and according to the survey, here are the top reasons buyers identified as triggers to their decision to consider purchasing a home:
1. "I'm tired of my house: the average time in a house has risen since the last recession as more owners found themselves underwater and were forced to stay in their homes as they faced declining values from 2007 - 2011
2. Interest rates are attractive: The average interest today on a 30 year mortgage is under 4%, which is a big savings on the average rate of 8.39% since 1971
3. Home prices are favorable: Even though U.S. home prices surpassed its 2006 peak this June, on an inflation-adjusted basis home prices today are still about 20% beneath the peak prices.
4. "I've got more money to spend": 24% of active homebuyers cite an increase in income is their primary trigger for buying a home now. The 25 - 34 year olds surveyed cited having more money as the No. 1 motivator in buying.
5. A change in family circumstance: More people are expanding their families: Births rose last year and are expected to grow again this year.
Tom: This survey was taken nationally. In Florida, weather and access to beaches would also be high on the motivational reasons for moving.