The COVID-19 pandemic has forced many people to reexamine where they live—and in response, many are choosing to relocate.
But how many people are looking to relocate—and what’s driving those relocation decisions?
A recent survey from LendingTree found that nearly half (46 percent) of respondents were planning to relocate in the next year—and that number was even higher for people who can work remotely (64 percent).
The biggest factors driving relocation decisions included:
- A desire to reduce living expenses (44 percent);
- Feeling their current home was too small (27 percent); and
- Looking for different features in a home (27 percent)
The Takeaway:
So, what does that mean for you? If you’ve been thinking about relocating and buying a new home? You’re not alone. And if you’ve been thinking about selling, with so many Americans considering relocation in the near future, many of those people are going to be in the market for a new home—making now a great time to list.