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shift in motivations is driving people to relocate, with job changes becoming less of a primary factor despite some companies calling for employees to return to the office. According to the National Association of REALTORS' (NAR) 2024 Migration Trends report, recent home buyers are more motivated by being closer to friends and family or finding greater affordability.

    The South is drawing a large portion of relocating buyers, with the Carolinas, Florida, and Texas being major destinations. "Given the lack of affordability in today's market, it's no surprise Americans are flocking to Southern states for more affordable housing options," says Matt Christopherson, lead author of the report and NAR's director of business and consumer research.

    The top 20 states gaining residents include Florida (372,870 new residents), Texas (315,301), North Carolina (126,712), South Carolina (91,853), and Georgia (88,325). These states offer greater housing affordability, with median prices significantly lower than in the West and Northeast. For example, the median price is $361,200 in the South and $305,300 in the Midwest.

    According to NAR's report, only 2% of real estate professionals say their clients moved due to employer office policies, while 43% say job relocation did not play a role in their client's purchase decision. Instead, agents reported a greater desire among their clients to seek more affordability and live closer to family and friends.

    Home buyers are prioritizing getting more bang for their buck, looking for areas with favorable taxes, additional square footage, and appealing outdoor space. Many relocators do not sell their previous home, with 20% keeping it as an investment, rental, or vacation property, most likely in the West and Northeast.