'Housing affordability is reshaping migration traits,' economist says. Here's where people are moving

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With high mortgage rates and home prices, would-be patrons are understandably searching for offers — even when they’ve to maneuver to a unique metropolis, state or area to search out them.

Last yr, shoppers moving interstate tended to choose new metropolitan areas where housing prices and competitors are much less extreme, and development is maintaining with demand, based on a current Zillow Group analysis of United Van Lines information.

Homes in these shoppers’ new metros price $7,500 much less, on common, in comparison with the locations they left.

“Housing affordability has at all times mattered…and also you’re seeing it throughout the nation,” mentioned Orphe Divounguy, a senior economist at Zillow. “Housing affordability is reshaping migration traits.”

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The 10 metros where people are moving

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