The COVID-19 Pandemic has influenced Decisions to Move and Accelerated Existing Moving Patterns. According to United Van Lines here are the top 10 inbound states and top reasons for relocating during the pandemic.
Top 10 Inbound US States in 2020:
Idaho
South Carolina
Oregon
South Dakota
Arizona
North Carolina
Tennessee
Alabama
Florida
Arkansas
Top Reasons for Relocation:
Family health and wellbeing (60%)
Desire to be closer to family (59%)
Change of employment (57%)
Lifestyle change/improvement of quality of life (53%)
While the current health crisis is unprecedented, the housing market is surprisingly predictable. Research shows that over the past 40 years, the U.S. housing industry — and home prices — have been fairly resistant to recessions caused by everything from world wars to natural disasters. If you’re feeling a little anxious about the state of real estate, here are some things to keep in mind.
1. Single-Family Homes Are Always on the Rise
According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI), single-family home prices typically rise an average of 7.4% leading up to a recession and continue to rise by an average 2.7% during an economic downturn. The o...
