Have you thought about moving lately? If so, you're not alone. In fact, according to one new survey of current homeowners, 72 percent said they're ready to pack up and find a new place to live. Last year, by comparison, only 35 percent said the same. That's a sizable increase and a significant amount of pent-up buyer demand in the market, particularly among current homeowners.
So what's behind Americans' growing desire to move? Mostly, affordability conditions. Many Americans want to buy but have been holding off, waiting for conditions to improve. For example, the same survey found about half of the participants who said they were ready to move also said they've had their plans on hold due to high home prices and mortgage rates. That means there are a lot of potential buyers waiting for the right time.
Fortunately, buying conditions have begun to show improvement, which may be enough to motivate some of the roughly 20 percent of prospective movers who say they'd like to move but don't believe they'll actually do it.
[Source: MortgagePoint]
