These States Face the Most Competition When Searching for a New Home - Georgia Ranks Fifth
Thursday, February 29th, 2024
New research has revealed which states people are most likely to lose out on their dream home to others getting there first, with Georgia named the fifth top state for those hoping to move.
The research, pulled together by online self-storage finder Storage.com analyzed nationwide and regional Google searches for keywords related to real-estate sites - such as Zillow and Trulia - to identify which states' properties and rentals are most in demand.
These searches were then compared against local populations to determine where reported the highest desire.
The added financial pressure caused by the current economic situation might put some off moving, but for others, it appears to be motivating them to take the plunge. In fact, a huge 476,050,700 Google searches were made in the US for real-estate listings during 2023.
While the driving factor for this interest is unclear, it could reflect tenants’ desire for cheaper rent as landlords hike up fees, or the urge to get onto the property ladder.
Whatever the reason, those in Georgia hope to move home the fifth most in the US. The state averaged 13,107 searches per 100,000 residents, which is 10% higher than the national average of 11,869 searches per 100,000 residents.
Colorado is the top state where potential movers are up against the most competition, with 14,414 searches per 100,000 people – 21% higher than the US average.
Following Colorado is Florida at 13,985 searches per 100,000 people, which is 18% higher than the US average. In third is Arizona with 13,782 searches per 100,000 people - 16% higher than the national average.
The ten states where movers have the most competition
|
Rank |
State |
Average number of monthly searches per 100,000 people |
|
1. |
Colorado |
14,414 |
|
2. |
Florida |
13,985 |
|
3. |
Arizona |
13,782 |
|
4. |
Michigan |
13,153 |
|
5. |
Georgia |
13,107 |
|
6. |
Washington |
12,892 |
|
7. |
Virginia |
12,863 |
|
8. |
Massachusetts |
12,550 |
|
9. |
Ohio |
12,354 |
|
10. |
North Carolina |
12,339 |
Meanwhile, Alaska residents are the least likely to have to rush into a deal to avoid losing it to other interested renters or buyers, with only 6,025 searches per 100,000 people, which is 49% lower than the national average.
Behind Alaska as the next state where people are least looking to move is Hawaii, as people search for real-estate websites 46% less than the average person, with 6,438 searches per 100,000 people.
Closely following in third is Mississippi with 6,671 monthly searches – which is 44% below the national average.
The ten states where movers have the least competition
|
Rank |
State |
Average number of monthly searches per 100,000 people |
|
1. |
Alaska |
6,025 |
|
2. |
Hawaii |
6,438 |
|
3. |
Mississippi |
6,671 |
|
4. |
Montana |
6,701 |
|
5. |
Louisiana |
7,060 |
|
6. |
Wyoming |
7,548 |
|
7. |
West Virginia |
7,768 |
|
8. |
North Dakota |
7,774 |
|
9. |
Arkansas |
7,811 |
|
10. |
New Mexico |
8,348 |
Interestingly, US searches for housing sites peaked in March last year at 44,698,660, which is 13% higher than the monthly average of 39,670,892 searches. This indicates this is the best time for sellers to list their property, as demand for new homes could rise again this year.
In 2023 Americans showing the least interest in moving throughout December, with searches dropping 20% below the average to 31,662,739 monthly searches.
Commenting on the findings, Chuck Gordon, CEO of Storable, the parent company of Storage.com says: “Now that we are a couple of months into the New Year, it’s likely those that were home hunting beforehand will return to it – and many others may start looking too if they set moving as a goal for 2024.
“If the trend spotted last year repeats itself, people are going to increase their research for their next potential home again next month. As interest surges, so will competition, so prospective renters and buyers may have to act fast if they want to secure a property.
“Finding the right place to live can seem like the biggest challenge of the process at the time, however it’s only the first hurdle. While it’s near impossible to remove all stress from a move, beginning packing as soon as things are in motion can seriously ease the headache.
“You’ll be surprised how quickly time can creep on you, and suddenly you have most of your house to pack still. However, it can take weeks upon weeks before you receive a moving date – sometimes even months – and living amongst boxes can add to the sense of chaos. If you can, use a storage unit to hold non-essential items.
“That way, there’s less loading and unloading to do on the big day. You can unpack and set up everything you need to use immediately, then add in the extras at your own pace, finding the right spot for them rather than just shoving them anywhere in a rush to feel sorted.”
