SEATTLE – The number of home searchers looking to relocate to a new metro fell 3.6% year-to-year in February, according to a report from Redfin – but that’s less than a 14.4% drop looking to relocate within their current metro. And once again, Florida and other Sun Belt states sparked the most interest.
Rising mortgage rates dented buyer demand in general, but it’s had little impact on where buyers wish to move. In some cases, buyers moving from high-cost metros, such as the San Francisco Bay area, can compensate for higher interest rates by buying a home in less costly metro areas, such as many in Florida. High rates don’t impact those buyers as much because they’re getting a cheaper house and possibly pocketing some proceeds from a home sale in a more expensive area.
Additionally, some relocating homebuyers have a non-negotiable reason for their move, such as a better job or to be closer to family. High rates are less likely to deter those buyers than ones simply considering a different house within the same town.
Buyers moving to a new metro
Of the buyers nationwide seeking a home, one in four (25.1%) looked to relocate to a new metro in February. A year earlier, it was 22.9%. Before the pandemic, it was roughly 18%.
For state-to-state movers, five of the top 10 go-to destinations are in Florida.
Top 10 go-to metro areas
- Miami
- Phoenix
- Las Vegas
- Sacramento, California
- Tampa
- Orlando
- Cape Coral
- Dallas
- North Port-Sarasota
- Houston
Popularity is determined by net inflow – how many home shoppers looked to move into an area rather than out of that area.
The typical home in popular go-to destinations is less expensive than the typical home they want to leave behind. The typical Miami home sold for $485,000 in February, for example, compared with $640,000 in New York, the most common origin for its incoming homebuyers.
To learn what cities people are moving out of - read Kerry Smith's full store HERE!
Is Florida Family Friendly?
Top Family-Friendly Destinations in Palm Beach and Broward County, Florida for 2023: Parks, Beaches, Schools, and More”
Palm Beach and Broward County are great places to raise a family. Both counties have a lot to offer in terms of family-friendly amenities and activities. For instance, Palm Beach County has numerous parks and beaches that are perfect for family outings, such as Peanut Island Park and Oceanfront Park Beach. Meanwhile, Broward County has attractions like Butterfly World, Flamingo Gardens and the Museum of Discovery and Science.
Additionally, Palm Beach County has some of the best school districts in the state, including the Palm Beach County School District, which is known for its quality education system that prepares students for higher education and careers. Likewise, Broward County is home to the Broward County Public Schools, which offer a comprehensive education and enrichment programs for students of all ages. In both counties, there are plenty of family-friendly neighborhoods with spacious houses and yards, making it easier for families to settle down and live comfortably. Overall, Palm Beach and Broward County are two of the best places to raise a family in Florida, thanks to their rich culture, diverse communities, and quality of life. Want to read more about what to do with the kids? Click HERE!
DIY - Wine Rack Edition!
Are you a wine enthusiast on a budget? Or maybe you just love the rustic charm of a homemade décor piece? Whatever the case may be, making your own wine rack is a fun and inexpensive way to add a personal touch to your space. In this post, I will guide you through the process of making your own DIY wine rack out of something that you probably have lying around your house.
Materials:
- A wooden crate or pallet
- Sandpaper
- Wood stain or paint (optional)
- Screws
- Drill
- Wood glue
Instructions:
1. Sand your wooden crate or pallet to remove any splinters or rough edges.
2. If you want to add some color to your wine rack, you can stain or paint the wood. This step is optional, but it can help to protect the wood from moisture.
3. Using screws and a drill, attach two pieces of wood at the bottom of the crate or pallet to serve as a brace for your wine bottles.
4. Measure the distance between the two wooden braces and divide it by the number of bottles you want to store. This will give you the spacing between each bottle.
5. Use perpendicular pieces of wood and wood glue to create simple dividers to hold your wine bottles in place. Make sure they are spaced evenly to provide proper support for each bottle.
6. Once your dividers are in place, do a final check to ensure that everything is stable and secure.
Congratulations, you now have a DIY wine rack that is not only stylish but functional too! Display your wine rack in your kitchen, dining room, or living room – wherever it will add the most charm to your space.
A DIY a fun inexpensive way to freshen up your space? Making your own DIY wine rack is a great way to freshen up your space without breaking the bank. Buying a pre-made wine rack can be expensive, but by using materials that you already have, you can create a unique and personal piece. Plus, the satisfaction of creating something with your own hands is truly unbeatable. A DIY project like this can add character to your home and can be a conversation starter when entertaining guests. So, why not give it a try? You may be surprised at how much fun it can be!
