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Metro home shoppers looking further afield.

Wednesday, October 2, 2019   /   by Vanessa Saunders

Metro home shoppers looking further afield.

2019-10-2.MovingUpstate.jpg
Home buyers, confronted with short inventory and high prices in large metro areas are expanding their search beyond their housing markets. The result is more buyers moving further to lower priced homes in mid-sized metros, and suburban locales not unlike communities in the Hudson Valley. 
Typically, home buyers move an average of only 15 miles from their current home. But now, buyers search far wider. An analysis of the most-searched destinations published by realtor.com showed metros that rank well on affordability, good jobs and surprisingly a large Baby Boomer population are topping the list of out-of-state homes
The top ten most searched out-of-state home-buying destinations were:
  • Charleston South Carolina 
  • Boise, Idaho 
  • Honolulu, Hawaii 
  • Columbia, South Carolina 
  • Fort Myers, Florida 
  • Portland, Maine 
  • Sarasota, Florida 
  • Greenville, South Carolina 
  • Tucson, Arizona 
  • Vegas 
The rankings were based on which areas received the most out-of-state views on realtor.com in Q2 of 2019.
According to realtor.com senior economist John Ratiu, it's mostly about affordability. Said Ratiu, "shoppers are seeking solutions to the current affordability challenge in large cities. Shoppers are broadening their horizons beyond the hustle and bustle of downtowns or expensive suburbs on the edges of cities like New York, Los Angeles or Boston and looking for the trifecta of solid employment, affordable housing and great amenities, as well as easy access to outdoor activities.”
Ratiu noted that with advances in technology, infrastructure and work cultures, buyers are finding that their next home could be found in a relatively short drive or quick flight away. For instance, Charleston, ranked the No. 1 moving destination, is sought out by buyers in neighboring markets of Atlanta, New York City and Charlotte, North Carolina. Boise, No. 2 on the list, is especially attractive to those in Los Angeles, Salt Lake City and Sacramento, California. 
Baby Boomers looking for places to down-size to also fit in the mix. The majority of the metros on the list are hot spots for retirees, which signals a shift in Boomer preferences from the expensive cities where they built their careers to the more easy-going feel of vacation communities,” said Ratiu. “Some of them may be initiating the purchase of their retirement home as a second home, while others may be purchasing it in their post-career stage of life.”
Whatever the reason, buyers are driving more home sales in up-state and out-state communities, in order to beat the costs and pressures of living in major metro areas. 

  hudson valley real estate, hudson valley property, hudson valley home, buying a home, hudson valley home owners, housing sales, orange county ny, rockland county, ulster county, sullivan county, 'urb to 'burb, lake osiris

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.