Long-Distance Migration Is on the Rise

The percentage of consumers who moved more than 1,000 miles has nearly doubled in the last year, according to a survey conducted for Relocation.com, an online resource for moving services.

More than 70 percent of the people on the move relocated farther than 1,000 miles in the 12 months ending in March 2009. In the previous year, only 36 percent went that far, Relocation.com reported.

Of those who moved more than 1,000 miles, 60 percent said the move was for financial reasons such as a lost job. Nearly 41 percent of long-distance movers indicated that the recession and the housing crisis influenced their decision to move.

Only 3 percent of those surveyed indicated that they had lost a home to foreclosure, while 13 percent reported that they had lost their jobs.

“We are seeing more out-of-state moves from traditionally popular destinations, likely because of high foreclosure rates and diminished property values,” says Sharon Asher, CEO of Relocation.com.

Source: Relocation.com (05/05/2009)

Atlanta made the list…

10 Cities Where Jobs, Home Prices Are Growing

Forbes.com looked at projections for housing starts from the National Association of Home Builders and job-growth projections from Moody’s Economy.com.

To determine where home prices are expected to rise most in the next couple of years,

Forbes identified cities that are likely to be vibrant markets because jobs are increasing and the housing market wasn’t overbuilt during the boom.

“The logic is pretty straightforward,” says Mark Zandi, chief economist at Moody’s Economy.com. “People will spend as much on housing as their income will allow them. House prices are very closely tied to household income over the long run when you look at business cycles.”

According to Forbes, these are the 10 cities where home prices are most likely to rise:

  • Albuquerque, N.M.
  • Charlotte, N.C.
  • San Antonio, Texas
  • Portland, Ore.
  • Austin, Texas
  • Salt Lake City, Utah
  • Colorado Springs, Colo.
  • Minneapolis
  • Atlanta
  • Oklahoma City

Source: Forbes.com, Matt Woolsey