However, southern and midwestern states are continuing to see steady growth each year, namely the state of North Carolina.
During an average year, you can expect to see about 10% of Americans wind up in the moving process, many times motivated by new life stages like marriage or a new job that causes one to relocate. But as we’re all very aware, 2020 is not your average year. And due to that fact, it has brought about brand new experiences for many – on both a personal and economic level – which is causing this new unforeseen shift.
Families are finding that it’s next to impossible to work and live simultaneously in small apartments tucked away in large cities like Manhattan or smaller ones like San Francisco. When official stay-at-home orders began back in March, many began to feel the confines of these once-coveted condos and apartments, and desired more than just a balcony to get fresh air for a few hours each day. Home offices are becoming more of a requirement, and less of a desire as WFH stretches into its eighth month for many.
In the end, many are asking themselves, “How do I achieve the best quality of life for myself and my family?” And with no real understanding of just how long the virus will continue to be a major issue or if future lockdowns will occur, many are opting to leave these metropolises for suburbia.
Signed contracts for sales of apartments and condos in Manhattan plunged by nearly 60% in July, meanwhile single-family homes outside of the city skyrocketed. Other states that have reported outbound migration patterns in recent years (even prior to the pandemic) are California, Connecticut, Maryland, New Jersey, Massachusetts, Illinois, Kansas, Louisiana, and Hawaii. Some contributing factors to this decline in population can be linked to high taxes, cost of living, and real estate prices.
However, southern and midwestern states are continuing to see steady growth each year, namely the state of North Carolina. As northerners begin to migrate south to see if their money can go further, more and more are choosing to stay. And now, many are entering these new, competitive real estate markets and finding it difficult to compete in a low supply market.
Now many are turning to homebuilding to create the home of their dreams – especially since there are many areas outside of the dense cities that offer spacious lots or dilapidated homes for teardown and rebuild. And when it comes down to it, many are not just looking for any home to make such a move from “cities that never sleep”. After all, sacrificing that exciting lifestyle should have an upgrade to offer.
Building a custom home is a rewarding experience for those ready to design, build, and live in the absolute home of their dreams. And it doesn’t necessarily need to be complicated or outrageously expensive – in fact, many millennials are now opting to build so they can incorporate important amenities such as energy-efficient appliances and integrated technology so the home is often smarter than its owner!
If you’re looking to make a lifestyle change thanks to this year’s unforeseen circumstances, and a custom home in a place where you can stretch your legs and enjoy time together with your family sounds appealing, it’s time to talk to Atmos. See how their one-of-a-kind digital platform has revolutionized the homebuilding process!