realestate

Northeast Homebuyers' Motivations Revealed by Local Realtor Insights

Northeast movers prioritized commute times in 2024, according to NAR report.

H
omebuyers who relocated to the Northeast United States this year were primarily driven by job opportunities and commutes, according to a recent report from the National Association of Realtors. The association surveyed its members about their clients' reasons for moving and found that over half of movers to the region worked in an office setting, with job location playing a significant role in their decision.

    Pennsylvania and New Jersey saw more people moving in than out in 2023, reversing losses from the previous year. Nationwide, homebuyers cited being closer to family and friends as the primary reason for relocating, followed by affordability and proximity to work. In the Northeast, movers prioritized having more square footage, outdoor space, and a quieter area with better neighborhood amenities.

    Many movers in the region relocated within their own state, whereas those moving to the South and West were more likely to move across state lines. Approximately one-fifth of recent clients moved back to an area where they had previously lived, with this trend being most common in the Midwest and least common in the Northeast.

    Pennsylvania's affordability, lower cost of living, and strategic location between major job markets make it an attractive destination for homebuyers. The state's tax environment is also a draw, with lower property and income taxes compared to neighboring states, as well as no taxes on retirement income, making it a top choice for retirees.

Northeast homebuyers discuss motivations with local realestate expert in regional market insights.