The real estate market continues to reflect shifts in lifestyle, work, and priorities, and 2024 is no exception. According to REALTORS®, people are on the move for a variety of reasons, and understanding these trends can offer valuable insights into the ever-changing dynamics of migration in the United States.
Top Reasons for Moving
The desire for change is often driven by personal, financial, and lifestyle considerations. In 2024, the top motivations for moving include:
Getting More Home for the Money (21%)
With affordability on the minds of many, buyers are looking to stretch their dollars by moving to areas where they can find larger homes or properties with more amenities for less cost.
Being Closer to Family and Friends (30%)
More people are choosing to relocate to strengthen their connections with loved ones. After years of separation during the pandemic and changing priorities, proximity to family and friends has become a major factor in relocation decisions.
Where Are People Moving?
Certain regions of the country continue to attract a significant portion of movers. Here’s how the numbers break down:
The Northeast (11%) attracts those who value history, culture, and access to major metropolitan hubs.
The South (46%) remains the most popular destination, offering warmer climates, lower costs of living, and attractive job markets.
The West (25%) appeals to those seeking natural beauty, outdoor activities, and tech-driven job opportunities.
The Midwest (18%) is drawing attention for its affordability and strong sense of community.
What Are Movers Looking For?
As people pack up and head to new homes, certain features and characteristics are taking precedence:
Quieter Areas (24%): Many movers are opting for less densely populated neighborhoods to enjoy peace, privacy, and a slower pace of life.
Outdoor Space (42%): Whether it’s a backyard, patio, or garden, having access to private outdoor areas has become increasingly important for relaxation and recreation.
More Square Footage (31%): The demand for spacious interiors remains strong as families seek homes that accommodate multiple uses, from workspaces to entertainment areas.
The Role of Remote Work
Remote work continues to influence moving patterns, with 43% of movers citing reduced importance of job location as a factor. With the flexibility to live anywhere, professionals are prioritizing areas that align with their personal preferences, rather than proximity to a physical office.
What This Means for the Real Estate Market
These trends highlight the need for REALTORS® to adapt and stay informed about shifting buyer priorities. For those planning to move, it’s important to partner with a real estate professional who understands these changes and can help find the perfect home in a location that meets your needs.
Whether you’re considering a move to be closer to loved ones, seeking a quieter lifestyle, or simply looking for more space, 2024 is shaping up to be a year of exciting opportunities.
If you’re thinking about relocating, reach out to Altitude REALTORS® for expert guidance tailored to your unique goals. Let us help you navigate the trends and find a home that’s perfect for your next chapter.
Learn more: Proximity to Family and Friends, Affordability Drive Relocation Trends in 2024, Finds New NAR Report