3 Markets Seeing More Buyers During COVID-19 (One Will Surprise You)

3 Markets Seeing More Buyers During COVID-19 (One Will Surprise You)

What does the state with one of the highest numbers of COVID-19 cases in the country have in common with the real estate market experiencing top demand in 2020? Well, as it turns out, they’re one and the same: Florida.

While August brought out some pretty devastating coronavirus statistics for the Sunshine State (hundreds of students quarantined, thousands of cases added per day), it also revealed that the top destination state in the country in 2020 was Florida. According to the HireAHelper.com “Where Americans are Moving” report based on more than 25,000 moves conducted so far in 2020, Florida’s affordable cost of living, pleasant climate, and relatively relaxed COVID-19 restrictions have combined to create an attractive environment for households looking to leave their current geographic location. With one in six moves credited to COVID-19 because of job loss, job changes like remote work, safety perceptions, and a desire to shelter-in-place with family and friends, Florida appears to offer everything buyers are looking for even though the state also has high infection numbers.

So, what does Florida have that other states with large populations and high rates of COVID-19 spread do not? After all, New York and California are both experiencing serious population losses. In fact, about 64 percent more people left these two states since the pandemic was declared than entered them. HireAHelper.com’s research team cited “political ideology” as a significant factor in household moving decisions. Although buyers may say they want to live in areas where they feel safer, they also want fewer restrictions on their movements. Florida, with lots of outdoor recreational space and a temperate climate, is an ideal compromise since residents can decide whether or not they want to be around others without having to isolate inside if they choose to keep their distance.

Here are 3 Markets Seeing More Buyers During COVID-19:

  1. Florida
  2. Idaho
  3. New Mexico

Idaho has actually experienced massive population growth, with three times more people moving into the state than are leading it! A big contributor to this is likely relative affordability in many desirable markets in this state, extremely attractive recreational spaces in the Rocky Mountains, and a burgeoning population of tech manufacturing companies that offer remote working options and economic stability in areas like Idaho Falls. An underlying groundwork of food processing and wellness-related businesses in the area also helps keep the economy stable with essential jobs.

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