Moving Saves Coastal Residents Money Every Month

Cadrene Heslop

Are you worried about where you will live when you think about your rent or mortgage? The cost of housing has increased in most states. But demand has raised sheltering expenses in coastal cities like California and Miami more. There are plans for affordable housing units. Yet, these projects are in the early planning stages.

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Thus, many homebuyers seek to move to more affordable towns. These consumers feel the pinch of rising costs as inflation continues to soar. The report was by Redfin.com. Their survey found that 32.3% of nationwide users moved to a different metro area. This figure was 26% during pre-pandemic times and 31.5% last year. (source)

Low mortgage of 2021 and remote work allow homebuyers and renters to move. Redfin.com says coastal towns are "seeing early signs of a housing-market slowdown" now. These seashore cities include San Francisco, Los Angeles, Seattle, and Boston. (source)

The number of people leaving places like Seattle has grown in the last two years. Seattle, for instance, is the eighth-most expensive city in the country. In February, a typical Seattle home cost $750,000, this is a 15% increase from last year. (source)

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