Lender Study Finds Florida a Top State Not to Leave

LendingTree analyzed loan applicants to see whether borrowers were moving out of state or staying put, and Floridians (No. 3 for stickiness) seem to like it here.

NEW YORK – New jobs, marriage, or downsizing are common reasons to prompt a person to move. But overall, most people prefer to stay put: 88% of people searching for a mortgage on the LendingTree platform looked for mortgages within the same state they currently reside in.

Texas residents are the most likely to stay put. At 93.9%, it had the highest percentage of residents looking to move within state lines – and it’s also a top destination for people moving to a new state.

However, Florida ranked third in the LendingTree study, with Michigan ranking second. Of the Florida homebuyers working through LendingTree, 93.9% plan to stay within the state’s borders and 6.1% are leaving. Of those planning to leave, 14.2% aren’t going far. Georgia was the top moving-to state.

Top seven states for residents are looking to stay:

1. Texas

2. Michigan

3. Florida 

4. Ohio

5. Oklahoma

6. Georgia

7. Alabama

Meanwhile, Alaska has the most outgoing residents, with the Texas the top relocating destination, the study finds.

“Although Texas and Alaska have very different climates and ways of life, both have large oil and gas industries that make it easier for workers to transfer their skills from one job market to the other,” LendingTree notes.

Hawaiians are also highly likely to leave. The high housing and living costs may be the reason so many residents transition from Hawaii to Nevada lately, researchers posit.

Top seven states residents are looking to leave:

1. Alaska ☹ (I love Alaska)
2. Hawaii
3. New York
4. Rhode Island
5. North Dakota
6. Wyoming
7. Vermont

In Vermont, 18.5% of people interested in a mortgage plan to move out of state, and one in five of those Vermonters (20.8%) plan to move to Florida.

Overall, most out-of-state movers don’t move very far. More than half of the most popular destination states border the current state that the person resides in. But if they’re looking to venture farther than a neighboring state, Florida was among the most popular destination spot.

Source: “LendingTree Study Reveals the Top States Where Residents Are Staying Put, Moving From, and Moving To,” LendingTree (Nov. 19, 2019) © Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

#BlairWhiteProperties #JohnRWoodProperties #RealEstate #FL #Florida #SWFL