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More People Moved to Cheaper, Larger Homes in 2020: Report

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Last year more people relocated to ZIP codes with lower home values and more space. (Getty)
Last year more people relocated to ZIP codes with lower home values and more space. (Getty)

Long-distance movers got more bang for their buck in 2020.

The average out-of-town mover last year relocated to areas where homes cost less and had more space, on average, according to a Zillow report.

If the pattern continues, it would help smooth over the extremes in the U.S. housing market.

“Over the longer term, this trend could contribute to an evening out in home prices across the nation,” wrote Jeff Tucker, senior economist at Zillow, in the report. “It may also spread out some of the spending and wealth accumulation which had been increasingly concentrated in ‘superstar cities’ over the last few years.”

Zillow, using data…



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