Boom or Bust
Migration and immigration patterns are changing. As they do, they continue to impact various local housing markets as homebuyers continue their search for affordable housing in the South and West sections of the U.S.
Recently released information from the U.S. Census Bureau suggests that homebuyers are migrating away from higher-priced markets to more moderately price cities such as Atlanta, Dallas, Jacksonville, Phoenix and Portland.
This migration from higher to more moderately priced areas is referred to as a rolling boom. It occurs whenever high prices force homebuyers into other areas. For example, California loses approximately 100,000 residents a year to other states. This exodus continues to fuel the recent booms in Nevada and Arizona. If those areas become less affordable, homebuyers will migrate again. When and if they do, Texas, Georgia, Florida, and Arizona appear to be at the top of the migration hot-spot list.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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