Cost pressures are among the factors forcing some out-of-state home shoppers to leave their areas, while others are approaching relocation as an opportunity to explore living in areas they couldn't have before COVID.
The share of buyers interested in out-of-state listings grew 4.1 percentage points year-over-year nationwide in Q1 with six of the top 10 relocation destinations in the Sun Belt, according to Realtor.com.
Home flexibility brought on by the pandemic and companies shifting from requiring their employees to work in their offices are driving this trend—not to mention the favorable weather and lifestyle in some of these markets.
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