8.7% of Americans relocate at a historic low due to high housing costs and remote work.

The percentage of Americans relocating has dropped to a historic low of 8.7%, largely due to high housing costs. Many potential movers struggle with down payments and maintenance expenses, while homeowners face significant mortgage payments even after downsizing. First-time buyers often find renting more affordable. Contributing factors include remote work, an aging population, and dual-income households. Experts suggest that a drop in interest rates below 6% could stimulate market activity.

September 03, 2024
22 Articles