As home prices hit high all-time highs in 2018, many buyers found themselves looking for new — and apparently warmer — places to live, according to a new analysis by LendingTree.
In its nationwide study that analyzed more than 2 million new purchase mortgage loan requests, LendingTree found that of the 12.1 percent of homebuyers across the country who change states, most people are eyeing the south.
Sunshine State reigns supreme
Overwhelmingly, Florida is the top new destination for people wanting to move out of state.
Florida was the top new destination for 15 of the 50 states, according to LendingTree. And of all purchase mortgage requests during the study’s period, 9.1 percent were for Florida. For out-of-state movers, 12.4 percent of requests were for Florida.
Texans love the Lone Star State
Texas had the highest percentage of residents looking to move within state lines, according to LendingTree’s analysis.
About 93 percent of purchase mortgage requests from individuals in Texas were for properties in the Lone Star State. Texas is also a top destination for people moving from out of state, snagging the top spot from six states.
People want to leave the Last Frontier State
Alaska reported the most residents looking to move to other states.
But rather than move to Florida, most want to stay relatively close by in Washington. By contrast, Alaska had the lowest percentage of residents looking to stay in state at about 75 percent, according to the report.
People often don’t move very far
In general, people that are looking to move out of state don’t desire a big move.
More than half of the most popular new destination states border the current state in which the homeowner resides. If the homeowner wants to move cross country, however, they probably want to move to Florida. Of the 20 states where the residents’ most popular new location does not border their current state, 13 were Florida, according to LendingTree.
The map below indicates where people are looking to move out of state.
I guess I would have to agree. I recently moved from Pittsburgh PA to Simpsonvilleville SC and I love it here!!!