The Mom Factor
What Is It and How Is It Steering Homebuying Trends
Most would consider employment opportunities or the cost of living in one metro area versus the next, as the driving force behind migration trends and the determining factor when choosing where to live. Surely these two data points have merit within the decision-making process; but no stat stands in comparison to: The Mom Factor.
A recent survey carried out by Realtor.com revealed that homebuying trends are heavily influenced by locational proximity to moms and motherly figures. To put it simpler: homebuyers are choosing where to live, based upon how close they will be to their mothers.
The survey showed that nearly half (47%) of all American adults have either moved or plan to move - themselves and their families or relocate their mothers - in order to be closer to one another.
15% - plan to move to be closer to their mom/maternal figure
14% - have already moved to be closer to their mom/maternal figure
10% - say their mom/maternal figure moved to be closer to them
8% - say their mom/maternal figure plans to move to be closer to them
For those looking to spot the next hot real estate market or the best places to invest in 2024, ditch the traditional trend scouting tactics. Instead, just follow the moms.
P.S. Happy belated Mother’s Day to all of the mom’s out there!
If you’re considering a home purchase, sale or investment this year, and you’d like professional guidance and assistance throughout the process, our team is here to help.
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