Business View Magazine | September 2019

15 BUSINESS VIEW MAGAZINE SEPTEMBER 2019 THE TOP U.S. DESTINATIONS FOR MOVERS AREN’T WHERE YOU THINK T he typical home buyer only moves 15 miles from their current residence, but realtor.com’ s Top Moving Destinations analysis shows that metros that offer relative affordability, strong employment, and large boomer populations can entice people to pull the trigger on an out-of-state home purchase. Released today, the list is made up of mostly medium-sized markets, including: Charleston, S.C.; Boise, Idaho; Honolulu; Columbia, S.C.; Fort Myers, Fla.; Portland, Maine; Sarasota, Fla.; Greenville, S.C.; Tucson, Ariz.; and Las Vegas. Buyers Seek Bargains without Going Too Far “Home prices have risen for seven consecutive years, far outpacing salary growth. Although interest rates are the lowest they have been in three years, cost has become a deal breaker for many buyers, especially in pricey West Coast metros,” said realtor.com® Senior Economist, George Ratiu. “But instead of giving up on the American Dream, many buyers have decided to look for a home in medium-sized metros outside their state that offer price relief, and a similar lifestyle.” Seven of the top 10 moving destinations attracted non-local buyers looking at homes with median prices 3 percent to 34 percent less expensive than their home markets, in Q2 2019. However, these destinations are not necessarily cheap; in fact, they are 16 percent higher than the national median of $315,000. But when compared to home prices in their current metro areas, they feel like a steal. For instance, Boise’s median listing price of $372,500 looks more attractive compared to Los Angeles’s OPENING L INES