Where are People Moving Today and Why?
People are choosing to move to the places they vacation. Lake Tahoe and the surrounding Sierra towns are popular spots for home buyers.
Plenty of people are still moving these days. If you are thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those.
People are moving to cities with lower housing costs
One big factor motivating where buyers are going is affordability, and that’s no big surprise. People are relocating to areas that have less expensive housing options. As a result, small cities are thriving.
Affordability is still very much front and center…a lot of what’s available is outside of the price range of many buyers so they look elsewhere for a little more bang for the buck.
The takeaway for you? If you’re having trouble finding a home that fits your budget, it may help to browse other, more affordable locations nearby.
People Want to Live Where They Vacation
If you’re already expanding your search radius, you may be able to include a location that features your favorite type of destination, like a suburb near the beach or a mountain town. Data shows many other homeowners are making that move a priority today.
Whether it’s the opportunity to enjoy more weekend hikes in the mountains or to wake up to a lakeside sunrise, people are moving to areas once considered vacation spots.
Even with today’s home prices and mortgage rates, here’s why a move like this could be possible for you. If you are already a homeowner, the equity you will get when you sell your current house can help fuel that move and give you the down payment you need for your dream home.
The trend towards remote work has sparked moves for people with new-found flexibility.
People Who Work Remotely Are Taking Advantage of their Flexibility
Ongoing remote work is another major factor in where people are moving. Many of these moves happen because employees untethered from their daily commutes began to care less about how far they lived from the office.
If you’re a remote or hybrid worker, you don’t have to live in the same city, or sometimes even the same state, as your job. That means you can prioritize other things, like being closer to loved ones, when buying a home.