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WASHINGTON – June 5, 2014 – Among 36 million people who moved between 2012 and 2013, 5 percent said the most important reason for moving was to be closer to work or for an easier commute, while another 8 percent cited the desire for cheaper housing, according to a report released by the U.S. Census Bureau.
The most common reason for moving in 2013 was “wanted new or better home/apartment.”
The report, Reason for Moving: 2012 to 2013, presents an in-depth look at 19 reasons why people changed residences during the previous year. It’s the Census Bureau’s first on this topic since 2001, and the report compares numbers to 1999.
Overall, the reasons for moving haven’t changed, but a higher percentage of people now move for pragmatic reasons, such as saving money. While “new or better home” still topped the list of reasons, it was cited by only 14.8 percent of respondents recently. In 1999, 20.8 percent of Americans moved to improve their circumstances.
In addition, 6 percent moved in 1999 for cheaper housing; last year that parentage rose to 8.3 percent. And the percentage that hoped to lower their commute costs to work was only 3.1 percent in 1999; last year it was 5.4 percent.
“We asked people to select the reason that contributed most to their decision to move,” said the report’s author, David Ihrke, a demographer in the Census Bureau’s Journey to Work and Migration Statistics Branch. “Picking one reason can be difficult as moves are often motivated by many different, and oftentimes competing, factors. For instance, if one’s primary reason for moving is to be closer to work or having an easier commute, they may have to sacrifice other preferences. This could include forgoing cheaper housing options or settling for a different neighborhood. If they mainly want cheaper housing, they may have to deal with a longer commute.”
Some people moved for a better job, but the Census study finds that reason increases based on the distance of the move: 23 percent of moves less than 50 miles were for job-related reasons, but it was 48 percent of those 500 miles or more.
″ Men were more likely than women to move for job-related reasons.
″ Better-educated people were more likely to move for job-related reasons than those with lower levels of education.
″ Married respondents were the least likely to move for family-related reasons.
″ Moves within the same county were typically for housing-related reasons, while intercounty moves and moves from abroad were more for job-related reasons.
″ Several individual reasons, such as “change of climate,” “health reasons” and “natural disaster,” were each cited as the main reason for moving by fewer than 1 percent of householders.
For people who seeking to move, dwellr, a new Census Bureau app powered by American Community Survey statistics, can pull up a list of U.S. locations that matches users’ preferences for such variables as city size, geographic region and job type.
The full survey is available on the Census Bureau’s website.
© 2014 Florida Realtors®
Survey: Confidence to heat up summer market
WASHINGTON – May 28, 2014 – More buyers are saying that summer is the best time to purchase a home, according to the latest Prudential Real Estate Consumer Outlook Survey.
More consumers say that the spring momentum will carry into summer, with the survey showing an eight-point jump over a year ago in those who view summer as the best time to buy a home.
Overall, 77 percent of 2,500 consumers surveyed reported a favorable view of housing, a 12-point jump from one year prior. Millennials showed the most optimism, at 85 percent.
Nearly 70 percent of those surveyed said they’re committed to buying or selling a home now, a six-point increase compared to Prudential’s survey at the end of 2013.
“Consumers understand that home valuations remain attractive and mortgage rates are still near historic lows, but with the brutal winter that extended into spring around the country, they really couldn’t do much about it,” says Earl Lee, president of Prudential Real Estate.
“The optimism and enthusiasm we’re seeing through the survey underscores consumers’ motivations and pent-up demand,” says Lee. “As more homes come to market and lenders ease their stringent underwriting guidelines, we anticipate busy times ahead in real estate.”
- 78 percent of potential buyers say it will be easier to buy a home this spring since “homeowners want to sell”
- 63 percent of sellers report increased optimism based on an improving economy and their perception of buyer motivation
- 76 percent of consumers say pent-up demand will create more competition for existing homes this season
- 83 percent of buyers say they plan to buy a home sooner rather than later because they fear interest rates will rise
Source: “Buyers and Sellers See Spring Buying Season Blooming into Summer: Survey,” RISMedia (May 26, 2014)
© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688
WASHINGTON – May 27, 2014 – Many prospective condominium buyers find that they cannot use FHA financing – not because they personally do not qualify, but because the entire development where they want to buy is ineligible.
Due to policy changes at the federal level and decisions by condo boards, FHA lending has become off-limits to thousands of communities in the last few years.
Agency officials have banned “spot” loans and will insure mortgages only for units in condo projects that have passed a certification process. That process looks at elements such as budgets, reserves, percentage of renters, insurance coverage and delinquencies on condo-fee payments.
FHA contends that its revised procedures weed out fiscally weak, poorly managed projects. However, some condo boards argue that FHA’s evaluation criteria are too strict, and that the certification process is bureaucratic and cost-prohibitive.
Since changing its policy four years ago, the number of condo developments approved for FHA financing has plummeted by over 50 percent. As of mid-May, FHA says just 10,020 communities out of roughly 144,000 condo projects nationwide had FHA certification – about 7 percent.
The country’s real estate community is rallying to persuade condo boards to seek the certification. An educational video that debuted at the recent National Association of Realtors spring legislative conference, for instance, emphasizes the “positive benefits” of certification. It urges directors to keep unit values high by expanding the pool of potential buyers, help unit owners tap equity for retirement, and remember the low risk of default associated with FHA borrowers.
Source: Washington Post (05/24/14) P. 5; Harney, Kenneth R.
© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688
Lowe’s Home 101 experts, Joel and Courtney, share different ways that you can safely and naturally control pests in your yard and be good to the environment at the same time.
This How-To video from Info 4 Your Life contains easy to learn garden tips to help you grow radiant flowers and lush green lawns and show your neighbors that you do indeed have a green thumb!
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