HUD Articles
Migration Patterns
March 03, 2022
During by the pandemic, millions of people moved, primarily driven by the opportunity (and oftentimes, necessity), to work from home. Patterns show that many Americans migrated away from larger cities into small cities and suburbs.
Millennials have led the charge in moving. National Association of Realtors identified the top 100 markets most favorable for millennials during the pandemic and Detroit-Warren-Dearborn, MI were among the top 100.
It is important for real estate agents to provide high value to these millennials, especially during the pandemic. Because of the pandemic, their needs vary even more than before.
The migrations patterns were supported by a 34% increase of first-time homebuyers over the prior 12 month period. Agents need to pay attention to small details to meet the needs of buyers and sellers to remain competitive and capitalize on contributing to such moves.
