The Great Reshuffling

Zillow conducted its first-ever mover report, which found that more than one in 10 Americans (11%) say they already moved in the past year, either by choice or by circumstance, contributing to the “Great Reshuffling,” and millions of additional households could enter the real estate market as a result of the COVID-19 pandemic. Researchers from Zillow concluded that a significant number of homeowners say they’re more likely to move and sell their home as a result of the pandemic, representing an additional 2.5 million households that could enter a tight real estate market already driven by unrelenting demand.

Life and financial uncertainty were listed as the top reasons that homeowners have not listed their home for sale during the pandemic among those polled. The COVID-19 vaccine is likely to change that and prompt many more people to move, as Zillow data found that 70% of homeowners said they would be comfortable moving to a new home when there is widespread vaccine distribution. Among recent movers, 75% said they moved for positive reasons, such as being closer to family or friends or living in an area they’ve always desired.

Source: DSNews