- As we enter 2023, the pull to affordable suburbs remains strong, according to Opendoor data.
- The top zip codes for movers were all in the South, but no popular city like Miami was on the list.
Big city: exit stage left. Movers prioritize small-town vibes and affordability over the hustle and bustle of the city. This trend is expected to continue this year.
Millions of homebuyers in 2022 preferred the suburbs of cities, according to analysis of movement data by Opendoor, a so-called i-Buyer that makes instant housing offers. This is a change from a major trend in 2021, when Americans flocked to blockbuster Sun Belt destinations like Miami and Austin.
Some of Opendoor’s top-ranked suburbs, including the Nashville suburb of Murfreesboro, Tennessee, and New Braunfels, Texas, located between Austin and San Antonio, are more affordable than the rest of the country. It has affordable housing and is small enough to foster a sense of community. .
Opendoor found that despite high mortgage rates cooling the real estate market, little has changed as the new year begins. The company said in a report that people “will be motivated to move to new locations in search of a more affordable cost of living.”
Median home prices rose year-on-year for the 130th straight month in December, but existing home sales continued to slow, the National Association of Realtors reported Friday.
The sentiment reflected in Opendoor’s report is very clear for mobile businesses like U-Haul and field professionals like realtors who believe the trend will take hold. I have no doubt that those already making the move out of pandemic hotspots to the suburbs would agree.
Densely populated cities may be unfashionable for movers, but the sun still shines, according to Open Door’s analysis. Americans want the warm temperatures and favorable tax policies that many Southern states can offer.
Opendoor’s top 10 towns are within an hour’s drive of cities with lots of jobs, parks, mountains, rivers and streams.
Opendoor’s rankings were derived through analysis of homes sold in the 53 metropolitan areas in which the company operates. This list is not exhaustive, but is drawn from data for all regions of the country.
If you’re considering relocating and you’re thinking like the millions who moved last year, you should consider these zip codes.