A lot of folks are still moving these days. If you're thinking about making a move too, you might be worried about the limited options and high prices in the housing market. But don't fret! A recent report from Gravy Analytics has some cool info on where people are looking for homes and what they're prioritizing. This could really come in handy when planning your own move.

1. People Are Moving to Cities with Lower Housing Costs

It's no secret that one of the main reasons people are moving is because of affordability. They want to find places where they can buy a home without breaking the bank. So, it's no surprise that buyers are flocking to areas with cheaper housing options.

“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.”
— Hannah Jones, Economics Data Analyst at Realtor.com

So basically, if you're having a hard time finding a home that you can afford, it might be worth checking out other nearby areas that are more affordable. That could be the solution you're looking for!

2. People Want to Live Where They Vacation

So, if you're already thinking about looking beyond your usual search area, you might want to consider a spot that ticks off all your favorite destination preferences. You know, like a cozy suburb close to the beach or a charming mountain town. It turns out there's actually a lot of folks out there who are making that kind of move a top priority these days.

“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 that were once thought of as vacation spots.”
— Gravy Analytics

Let me break it down for you. Even though home prices and mortgage rates seem high these days, I want to show you how it's still possible for you to make a move. Here's the deal: If you already own a home, selling it will give you some serious money, called equity. And guess what? That money can help you make that dream home a reality! It's like having a nice chunk of cash for your down payment. Pretty cool, right?

3. People Who Work Remotely Are Taking Advantage of that Flexibility

You know, one big thing that's influencing where people are choosing to move these days is the whole remote work situation. It's pretty cool how a lot of folks are able to work from home or anywhere else they choose. So now, when deciding on a new place to live, people are also considering the availability of remote work opportunities. It's definitely playing a big role in where people are choosing to settle down.

“Many of these moves happened because employees untethered from their daily commutes began to care less about how far they lived from the office.”
— McKinsey Global Institute

Are you a remote or hybrid worker? Well, guess what? You don't have to be tied down to living in the same city or state as your job anymore. That's right, you have the freedom to choose where you want to live. So if being close to your loved ones is a priority for you, you can make that happen when buying a home. No more sacrificing what truly matters to you.

You know what? That report from the McKinsey Global Institute actually said that 55% of people who moved during the pandemic ended up moving further away from their office. Can you believe that? And guess what? Since working from home is still super popular, homebuyers are probably going to keep on taking advantage of that flexibility when choosing where to live. It's pretty cool, right?

Bottom Line

So many folks are still in the process of moving these days. If you're looking for assistance in handling the current inventory and affordability issues, and need some expert advice to help you discover your dream home, let's get in touch.