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Daily Real Estate News  |  June 18, 2008  |   Americans Are Still on the Move
About 40 million Americans move to a new residence each year, but a greater proportion of home owners are becoming renters than the other way around, according to a national survey by

The woes of the current real estate market are reflected by the findings which showed that 19 percent of those surveyed went from owning their own homes this year to renting with only 15 percent shifting the other way. Only 14 percent of the 1,237 respondents owned their previous residence and moved to a newly purchased home.

The majority of recent movers went from one rental situation to another, according to the survey.

The survey showed that most people relocate because they took a new job or their employer transferred them, or they are seeking a new lifestyle, including retirement.

About half of the moves were from one state to another. Two-thirds moved more than 100 miles and 54 percent moved more than 500 miles away.

California is the number one destination state with 6 percent of the total sample moving there from another state. Other top destinations:
  • Florida 5 percent
  • Texas 4 percent
  • New York 3 percent
  • Georgia 2 percent

Source: (06/17/2008)

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