by Calculated Risk on 8/17/2009 06:32:00 PM

Here is some national data on buyer motivations in Q2. This is from a survey by Campbell Communications (posted with permission).

Credit: Summary Report--Real Estate Agents Report on Home Purchases and Mortgages, Campbell Communications, June 2009

Click on graph for larger image in new window.

This graph shows the motivation of non-REO home sellers.

From Campbell Survey:

We told respondents, “Please think of the number of non-REO listings you currently have and then specify the number of home sellers by motivation. If more than one motivation applies, please select the single motivation that is most important; skip any motivation that does not apply.” Significantly, we found that unforced or optional listings account for only 31% of non-REO listings. Financial stress (including short sales) account for over a quarter. Other significant motivations include long distance relocation and divorce or estate sales.

A previous survey question on home purchase transactions found that 51%, or approximately half, of the home purchase market is non-REO transactions. Combining the above question’s results with this data, we can impute that only 16% of the agent-sold residential real estate market—REO and non-REO properties—is a result of unforced or optional listings.
emphasis added

See Distressed Sales and Types of Buyers for a breakdown of REOs, short sales, and non-distressed buyers.