Phoenix is No. 1 for net inbound moves

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Phoenix is No. 1 for net inbound moves

The pandemic has turned the meaning of home on its head and caused many of us to think about how and where we want to live. A new Zillow survey of inbound and outbound moves found that more than 1 in 10 Americans (11%) say they moved in the past year – voluntarily or because of circumstances – and contributed to the major reshuffle, and Millions of additional households could join the real estate market as a result of the pandemic. ALSO READ: Zillow Begins Cash Offers For The Zestimate READ ALSO: 5 Arizona Housing Market Forecasts for 2021 Moving remains a challenge, but today may offer more opportunities than ever, thanks in part to the rise of remote working. That inspired Zillow to release his very first Mover Report, a data-driven glimpse into the people and emotions that are driving this spring home shopping season. Here’s what we found: People want or need to move, even in a pandemic Zillow studies have found that a significant number of homeowners say they are more likely to move and sell their home due to the pandemic, equivalent to an additional 8 million households in one Property market already driven by relentless demand. Life and financial insecurity are among the main reasons homeowners haven’t put their home up for sale during the pandemic. The COVID-19 vaccine is likely to change that and make many more people move. Zillow data shows that a large majority of homeowners (70%) say that with widespread vaccine distribution, they would most or completely feel comfortable moving into a new home. According to a new Zillow survey conducted online by Harris Poll, more than 1 in 10 Americans (11%) have already moved during the pandemic. Three quarters (75%) of newcomers said they moved for positive reasons, such as being closer to family or friends or living in an area they have always dreamed of. The new flexibility of teleworking has opened up these opportunities for many, and new real estate technologies, such as Zillow’s 3D house tours and interactive floor plans, have enabled moving companies to get a full home experience from hundreds or thousands of miles away, adding added confidence for buyers shopping remotely. The Sun Belt lists the highest net removals in Phoenix, Charlotte, NC and Austin, Texas in the first 11 months of 2020 as the recent moving companies looked for relative affordability and warmer weather. These Sun Belt metros are expected to continue the surge in inbound movements in 2021. Zillow’s panel of experts predicted that Austin and Phoenix housing markets will outperform the domestic market this year. Data from northAmerican® Van Lines also shows that some of the largest and most expensive real estate markets in the country had the highest net disposals, including New York, Los Angeles, San Francisco and Chicago. Zillow saw an increase in inventory for sale on these subways across the city, while inventory in the top cities for inbound moving nationwide hit new lows. “The pandemic has accelerated the trends we saw in 2018 and 2019,” said Jeff Tucker, Zillow’s chief economist. “Affordable, medium-sized subway areas along the Sun Belt have significantly more people coming than going, especially from more expensive, larger cities further north and on the coasts. The pandemic has catalyzed purchases by first-time buyers of the turn of the millennium, many of whom can now work from anywhere. ”Moving Remains Stressful The pandemic has seen the rise of Zillow surfing as people seek to escape their reality or to find a new one create. But the path from dreaming to moving can be fraught with financial, logistical and emotional obstacles. Zillow’s survey found that nearly a third of newcomers (31%) say they have been dreaming of moving for a year or more. More than three quarters of newcomers (76%) say that emotional factors prevented them from their last move. Stress of not being financially prepared for the move and the expectation that the moving process would be difficult or stressful were the most common factors cited. Almost a quarter (23%) of newcomers said that worrying about their move causing stress to their child (ren) was keeping them from their most recent move. These concerns are justified: Around half of all newcomers said they had experienced stress (55%) and anxiety (48%) during their last move. Moving Opens New Opportunities After their last move, more than half of Americans said they felt happy (54%) and relieved (53%). A large majority of recent moving companies – 80% – say their recent move paid off. Many new moving companies say that starting a new chapter in their life is one of the most rewarding parts of moving to a new home. Almost 3 out of 5 newcomers (59%) state that positive life events have occurred since their last move. Most often, they state that they have fulfilled a dream or have become enthusiastic about something new. This is what happened to Darren and Yolande Rollinson from Dallas, Texas, who say their two children loved it when they moved to their new home. The Rollinsons had lived in their self-described starter home for 24 years and needed more space, but they had postponed a move because of their demanding jobs and concerns about the stress of buying and selling a home. The Rollinsons found their solution by selling to Zillow Offers. Avoiding repairs, open houses, and demonstrations, they were able to set their closing date so they could move into their new home in less than a month. Her advisor at Zillow Offers walked them through the entire process, which they described as “peaceful, productive, and well-planned.” “The future for us is growth,” says Darren Rollinson, who works in the medical field. “Now we believe we can do anything. We know we have achieved something. We can keep growing and taking bigger steps. ”Tech Tools Make Moving Easier The pandemic has accelerated the development and adoption of real estate technologies that have helped eliminate some of the most stressful parts of a move. Virtual tools like Zillow’s 3D house tours and interactive floor plans make it faster and easier to buy a home and browse the options. According to a study by Zillow, today’s shoppers overwhelmingly want these tools to be available during the home shopping process. Almost four in five (79%) Americans would like to see a virtual tour and digital floor plan when buying a home. Homes on Zillow with a 3D home tour were saved 32% more by buyers than homes without and received an average of 29% more views than listings without. High tech services like Zillow Offers can remove the fear and uncertainty associated with traditional home sales and can schedule the sale with the purchase of a new home. Zillow can also finance and complete services digitally, allowing buyers and sellers to transact remotely. … but a partner makes change possible A trusted real estate agent can be a steady hand and guide a homebuyer or seller through the entire process. Zillow Premier Agents are local experts who understand that moving house is both a physical and an emotional journey. Cierra DeVille, a Zillow Premier Agent at Active Realty in Irvine, Calif., Relied on empathy and compassion to help a Nashville-based family overcome the stress of moving overseas. By listening to their unique needs and using their local knowledge, DeVille found the perfect off-market property. “The excitement and gratitude they felt when I was able to give them exactly what they wanted when they wanted it was pure joy,” says Deville, who was helping the family with their new home before her daughter’s fifth birthday Respectively. “There is nothing better.”

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