Trulia recently issues their Metro Movers Report, which stated that hen people search long-distance for a new home, weather plays as a bigger factor than the job search. According to the report, most long distance house hunters are looking in markets with higher unemployment and slower job growth than where they currently live.
The report also stated that the top long-distance searches for homes more than 500 miles away are toward the South and West. Unlike short-distance searchers, long-distance searchers are mainly attracted to lower prices and bigger price drops, not just lower density. Long-distance house-hunters are 1.7 times more likely to look for homes in markets with bigger price drops in the bust, relative to where they live now, than in markets that held up better.
Long-distance searchers also factor in weather: people are 1.8 times more likely to look for homes in markets with warmer winters than in markets with colder winters, relative to where they live now.
- Of the top 10 metros where demand among online house hunters is strongest, 7 are located in the Sunshine state.
- One-third of all the home searches in Miami on Trulia.com originate from people living more than 500 miles away.
We know for sure that many people are looking closely at Southwest Florida for their move, whether it is to retire or just to leave their current market. Buyers looking at the Naples, Bonita Springs and Estero Markets for home ownership can get the best of both worlds – a second-to-none climate and an improving job market.
To see Trulia’s full report, click HERE.
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