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A recent study was just released about the US housing market. It showed that one in six people moved last year. This is great news for interested buyers and renters for the overall economy.
According to the survey performed by self-storage marketplace Sparefoot; over the last twelve months, one in six Americans moved homes, with fifty-seven percent of those people moving further than twenty five miles from the last place they lived.
Among the best news from the recent survey is that the reason most commonly cited for moving was homeowners relocating into a larger or better home. Over eighteen percent of people cite this as their reason for moving.
Another good indicator for the housing market and economy at large was the information released by the survey that said over 15% of people were moving for their new jobs. With the national unemployment rate falling to 7.6%, the newest data from this survey demonstrates an economy well on the mend.
Savvy investors know that buying low and selling high is the only way to make money, so buying in now while home prices are still fairly low is a great way to make money five years from now when the US economy has completely recovered and moved into the next phase of highs.
According to the US Census Bureau, nearly twelve percent of American adults changed residences in 2012. The period covered by the survey began in spring of 2012 through spring of 2013. This follows a record low year of American mobility when only eleven percent of Americans changed residences.
The biggest movers in the US were located in the south, with over nineteen percent of those who moved coming from there. This was followed by the West (eighteen percent of people) and the MidWest (fourteen percent) and the North (twelve percent).
All this is good news for the home buying investor. Increased mobility means increased velocity of money through the system, spurring growth and investment. This opens up a lot of great opportunities for savvy buyer to buy personal residences as homes as investments for passive income.