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Stats Show Americans Are on the Move Amid Pandemic

Contemplating a move in 2020? You’re not alone. Though conventional wisdom might suggest that American families and corporate workers are digging in and staying put this summer, the latest statistics — and appearances in neighborhoods from Las Vegas to New York — say otherwise.

In at least one North Dallas, Texas-area neighborhood, for-sale signs are blooming in front yards right along with the late-summer crepe myrtles, with momentum this year shifting from a traditional May surge to late summer. For the past two years, Texas has been at the top of Allied’s corporate client destination states, with little changing in 2020 as companies are charmed by the state’s business-friendly climate and affordable, Texas-sized housing.

Tired of looking at your same four walls and considering a move? Here are some things to consider.

August Surge

The National Association of Realtors in early August reported growth in home sales, buyer demand, and housing prices that had already surpassed year-ago levels. Though activity was lower at the beginning of the pandemic lockdown a few months ago, the drive to move is picking up now as remote working, and even schooling in many cases gives residents more freedom to change their daily scenery.

In the report, realtor.com showed that limited inventory is the biggest current challenge to prospective relocators as homes are selling four days faster than a year ago at prices that are up 9.4% from a year ago.

In one pandemic house hunter’s experience, some of her top surprises were:

It really isn’t a buyer’s market; there are few bargains to be found
Get ready for virtual house-hunting — you can look forward to video tours and clicking through dozens of photos
Get pre-approved; in many areas lending is tighter
Don’t go it alone — get a professional Realtor to help with your search

So What’s Going On?

Some of the pandemic-inspired migration is from high-density metropolitan neighborhoods or higher-cost housing where once communal amenities like pools, gyms, and shared libraries or game rooms are no longer quite so attractive or even open.

Many families see rural areas, with larger plots and more distance from their neighbors, as more attractive.

A July survey by the Pew Research Center showed that about 22% of Americans have relocated because of the COVID-19 pandemic, or know someone who has. There’s also an increase in people, many of them young adults, moving in with other relatives.

Allied is Your Moving Resource

As your plans come together to relocate your family or business, Allied’s 24-hour customer service and unmatched resources can help you sail through your next move.

Keep these moving-day tips top of mind so you and your family have a safe and successful transition. We’re here when you need us!

Sources:

5 surprises learned from house hunting
Moving trends
Colorado article
Pew research

by Ricardo Ramos on Sep 4, 2020