More Americans looking for affordability

Green Escrow | buyer regrets

One result of the pandemic has been U.S. workers leaving their jobs in record numbers. Common reasons cited included dissatisfaction with their employers, a desire to work from home permanently, greater work-life balance, and a new career. A full 33 percent of those leaving their jobs started their own business.

Meanwhile, a survey by Coldwell Banker found that 41 percent of Americans would accept a pay cut or a new job at a lower wage if it meant moving to a more affordable location with an even higher rate (46 percent) coming from the Northeast and West.

Time to Relocate?

Green Escrow | Real Estate News

In one sense, the news is good: employees in San Jose and San Francisco have the highest annual salaries in the country. Moreover, that salary in San Francisco actually goes further than in any other major U.S. coastal city.

On the other hand, 63 percent of renters in San Francisco as surveyed by Apartment List said they’re planning to relocate due to the high cost of living. Los Angeles is the top destination cited within California while Salt Lake City is the main attraction out-of-state.

Finally, high housing costs are probably scaring off skilled workers in other parts of the country as San Francisco is not listed as a top destination in any of the top U.S. metro areas.

Real Estate Trends: Relocating

Green Esrcow | Afforable Housing

A recent article in Forbes highlighted current trends in the United States when it comes to Americans and their relocating habits.

According to the Census Bureau, Americans are moving much shorter distances when relocating, just going county-to-county, with nearly half of all such moves less than 100 miles.

The suburbs are still a huge draw for many while many are looking to the Sunbelt, where the density of population is slower, jobs are plentiful and housing is cheaper.