Over a quarter or 25.1 percent of house hunters in the United States were seeking to relocate to a new metropolitan area in February, according to real estate company Redfin.
The interest to relocate registered at 22.9 percent in 2022, and approximately 18 percent prior to the pandemic. The latest number is a record high, indicating a housing market shift toward relocation owing to elevated mortgage rates, high property prices, decades-high inflation combined with economic uncertainty. Americans are looking to move to areas with cheaper homes and considering the rise of remote jobs, the relocation option is increasingly being considered.
