Homebuyers are moving far away from their last place
"How far a buyer moved jumped to an all-time high of 50 miles"
From a National Association of Realtors blog post on their “2022 Profile of Home Buyers and Sellers“:
5. How far a buyer moved jumped to an all-time high of 50 miles from a range that had been steady between 10 to 15 miles.
Buyers' migration to small towns and rural areas was undoubtedly at play. Another factor is remote and hybrid work settings. In January 2021, many headlines touted that CEOs provided employees with permanent remote work. This allowed buyers to separate themselves from city centers or inner suburbs and migrate to farther areas. Zoom towns were the boom towns in the last year.
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