Everyone else being well, labour tends to be triggered by the maturation of baby's lungs. When babies lungs are matured, baby sends out a chemical through the umbilical cord to mum and that triggers all the labour hormones like prostaglandin and oxytocin to start ramping up and this is what starts labour. But unlike other animals, humans don't have an exact gestation. Some animals, like pigs I think have very specific gestations (3 months, 3 weeks and 3 days, exactly), but for humans it's really variable. So there is no reason that one person goes at 38 weeks and another goes at 42 weeks other than one baby's lungs needed extra time to mature and trigger the start of labour. Now this is all other things being equal, like no infection (as vaginal, uterine and urinary infections can trigger labour, more because your body perceives a threat to baby and it may be safer for baby to be on the outside than on the inside, even if the lungs aren't totally ready), or no premature rupture of membranes because sometimes membranes can break for reasons other than labour beginning. So really it is just that some babies need longer time to finish maturing and start up labour than others, though sometimes it is because something else is happening, like an infection, etc. Whether that tends to be genetic or not, who knows. My mum had me naturally on the earlier side (around 38 weeks) and I had my daughter naturally at 37 weeks. It could just be coincidental or it could be partly explained by genetics.
But the reason why so many mums go overdue is actually probably because how we calculate due dates is wrong. The formula for calculating due dates that everyone still uses is very old and based on the Bible, not necessarily on medical science. Using more up to date formulas actually adds 10 days to your due date, which makes sense because most first babies, left alone to be born when their ready, tend to come on average about a week or so after their due date. So they may not be "late" at all, but right on time, just that we're counting wrong. There are some interesting articles out there on it if you have a google for them.