SAN FRANCISCO, February 2, 2012 – According to real estate search engine Trulia, “House hunters near and far eye Florida real estate.” Seven of the top 10 metros with high demand from out-of-state residents are in Florida. Even with a backlog of homes unable to complete the foreclosure process, big price declines mean more people want to move to Florida than leave. In fact, one-third of all Miami home searches were done by people living more than 500 miles away.
Trulia’s Metro Movers Report looks at where homeowners are today and, by analyzing where they search for a new home, provides a look at where they want to live tomorrow. The Winter 2012 report examines all property searches on Trulia.com among all U.S. metropolitan areas between Oct. 1 and Dec. 31, 2011.
“Today’s house hunters are deal seekers,” says Jed Kolko, Trulia’s chief economist. “Although locals in Florida, inland California and the Southwest are suffering from high foreclosure rates and lost equity, huge prices declines … have drawn house hunters from across the country. As America’s retirement capital, Florida has received the most attention from prospective homebuyers and renters from the Northeast and Midwest. Baby-boomers who had planned to retire to cheaper places during the boom years can once again buy in Florida.”
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