Housing affordability has always been important, but as home prices reach new highs, the issue of affordability is taking on even greater importance. According to CNBC, a recent Zillow report shows that residents from major cities across the nation are increasingly moving to cities in the South and Midwest where the cost of housing is lower and the competition to get it is less intense.
The search for affordability has led a strong migration flow into states like Florida, North Carolina, South Carolina, Tennessee and Texas, said Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors.
Cities in the Zillow analysis showing the most inbound moves include Charlotte, North Carolina; Providence, Rhode Island; Indianapolis, Indiana; Orlando, Florida; and Raleigh, North Carolina, according to the Zillow analysis.
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