There’s a new buyer migration taking place in our market.
Where are the homebuyers in our market coming from?
The movement of homebuyers into our market is a byproduct of the quarantine and so many people working from home. Employers have discovered that their workforces can feasibly work remotely. Thus, many residents of major metropolitan areas who were forced to rent because residential housing is so expensive in these places are thinking of moving away. In fact, a recent poll found that, out of roughly two million of these renters, 66% said they would consider moving and working remotely.
These people could all be new homebuyers purchasing entry-level homes that aren’t too far away from where they live now. This is what we’ve been seeing in our area of Montana, and it’s been an interesting addition to the buying population.
These days, buyers are coming from everywhere. Before the concept of working from home was popular, it was much more important for homebuyers moving to our area to have a job waiting for them. That’s not the case anymore.
If you’d like to talk more about this homebuyer migration and its impact on our real estate market, don’t hesitate to reach out to me. I’d love to speak with you.