It’s no secret the pandemic has completely changed the meaning of home, prompting many of us to rethink how and where we want to live. A new survey finds 11% of Americans have already moved in the past year not just across town, but across the country.
This is all according to Zillow in its first-ever “Mover Report.” It’s a data-based dive into the people and emotions driving moves this spring.
People want or need to move, even in a pandemic.
The Zillow research has found a significant number of homeowners say they’re more likely to move and sell their homes as a result of the pandemic. That represents an additional 2.5 million households that could enter a real estate market, which we know here in North Texas, is already driven by unprecedented demand.
The Sun Belt tops moving destinations.
Those cities include Phoenix, Charlotte, North Carolina, Dallas-Fort Worth and Austin. According to Zillow’s report, these cities saw the highest inbound moves in the first 11 months of 2020. Movers are looking for affordability and warmer weather. It’s expected to surge this year, in fact, Zillow experts predict Austin and Phoenix housing markets to outperform the national market in 2021.
Not surprising – people living in the country’s largest and most expensive housing markets, are moving out.
According to Zillow, New York, Los Angeles, San Francisco and Chicago saw for-sale inventory go up while inventory nationally hits historic new lows.
Moving opens new possibilities.
After their most recent move, more than half of Americans surveyed said they experienced happiness and relief. A vast majority of recent movers — 80% — say their most recent move was worth it.
Source: NBC DFW