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Home Buyer Migration Hits Record High

Traditionally, your job had a lot to do with where you lived. After all, if you have to go somewhere almost every day, you probably want to live closer to it than farther away. And so, most of us factored in our commute to work when making home buying decisions. But when the coronavirus hit and many Americans began working remotely, things changed. There was an increase in the number of buyers looking to move to rural and suburban areas. There was also an increase in the number of buyers hoping to find a place in an entirely different metro area. Now, a year later, the trend doesn’t seem to have waned. In fact, according to one recent report, the number of buyers looking for a home in a different city hit 31.2 percent in January and February, that’s up from 26.1 percent during the same time period last year. It’s also a record high. Whether buyers are moving metros to be closer to family, to find something more affordable, or just for better weather, it’s clear that remote work has allowed Americans to live where they want, even if that means leaving town. (source)