Will Homebuyers Move From the Sidelines? Relocation.com Survey Offers Clues
Families are renting while they sleuth good deals, according to new survey
NEW YORK, July 13 /PRNewswire/ -- Are more Americans positioning themselves for home purchase? Although May's data proved disappointing with home sales down 26.8 percent as the home tax credit concluded, a new survey by Relocation.com suggests some families are opting for renting while they research, cash in hand, for deals on a new, more desirable home in their area.
Here's what the survey found: Of the 60 percent of individuals moving into rentals, 24 percent were previous homeowners renting temporarily while they look for a new home to purchase. Underscoring this finding is that for many of these families, foreclosure was not the reason for moving—in fact, the number of consumers who moved due to foreclosure dropped by 70 percent. Furthermore, many of these families stayed in the area (one in three made a short distance move of 100 miles or less), opting to remain in a location where they already know their schools, shopping districts and prime neighborhoods.
"While the housing market continues to flux from month to month, we're seeing strong, continued interest as consumers looking to move start their research with us," said Relocation.com Chairman and Founder Sharon Asher. "These findings suggest that more Americans may be poised to re-enter the housing market this year."
The Relocation.com survey was conducted in early June 2010 and is a continuation of consumer surveys conducted since March 2009 to gauge moving and relocation attitudes and behaviors. For the full survey results, please click here.
About Relocation.com
Relocation.com is the largest online marketplace connecting consumers who are moving locally, nationally or internationally with professionals that can best service their needs. Working with many leading moving and storage companies, Relocation.com provides free quotes from quality, professional companies who can service consumers during their upcoming move. It is focused on helping make the relocation process easier and less challenging for the 40 million people moving each year. Relocation.com offers comprehensive information, tools and resources to help consumers compare, connect and learn about products and services from hundreds of relevant providers. Named in 2009 by Inc. magazine as one of America's fastest-growing companies, the company was founded in 2000 by online moving industry pioneer, chairman Sharon Asher, and is based in New York. For more information, visit www.relocation.com.
SOURCE Relocation.com
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