LendingTree's State Migration Study Finds Homebuyers Heading South
November 13, 2017
Whether for professional or personal reasons, people sometimes pick up and move. In a recent study performed by Lending Tree, the results revealed that Florida is the new #1 destination for people to move to. The study looked at where residents in each state are looking to move and discovered a southern tilt in preferences of out-of-state home buyers. Within the study, Lending Tree wanted to find the percentage of all requests from resident looking to move outside of their current state. They reviewed purchase mortgage loan requests for primary residents in all 50 states in the last year – from October 2016 to October 2017 and the results revealed the most popular destination for each state along with the percentage of out-of-state requests for that location. Accord to Lending Tree Key Findings, Florida is the number one new destination for 18 of the 50 states. Of all purchase mortgage requests during the study’s time period, 9.14% were for consumers looking to move to Florida. The Sunshine State has a history of bringing in visitors and new residents, particularly retirees.