How Far Are You Willing to Go to Find Affordable Home?

With home prices still at an all-time high, home buyers are moving as far out as possible in search of affordability. And where is this search taking them? Well, their search is taking them into smaller towns and in rural areas. Have you ever of Splendora? While some people have, a lot have not. That is where I recently took a couple to view brand new home that was in their price range.

The recently completed 2022 Profile of Home Buyers and Seller by The National Association of Realtors, found that although the historical distance from their previous property was 15 miles, home buyers are moving an average of 50, miles in search of affordable homes. And they are in fact finding homes. I did find my buyers a brand new 3-bedroom home with 2 bath and 2 car garage for less than $230,000.

And while finding a brand new home that is affordable is great, family support system still prevails as a motivating factor when moving. In this case, the fact that my home buyers work from home, did helped to make their decision easier. And they are in fact close enough to family, for those just in case events.

Plus, they get to make new friends while maintaining existing ones. The National Association of Realtors also reported that the share of home buyers who purchased homes in small towns was 29% and rural locations reached a record high of 19% over the past year. So, just in case you were wondering, yes, there are affordable homes out there. They are just a little bit further out. My buyers are very happy.

Helping you to make powerful and informed decisions. Thank you so much for stopping by, and remember, if you are thinking of purchasing your new home, or selling an existing one, please give us a call. It will be a pleasure to work with you. Until next time...Diana

Graph Image: Courtesy of National Association of Realtors

Source: National Association of Realtors

Diana Walton Broker
Astor Eaton Realty
713.208.8013
Write to Diana Walton at homes@astoreaton.com
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