MReport December 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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M REPORT | 53 O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST DATA Of those that did move to a new metro area, 83% re- ported that they are "at least a little happier" after moving. 7% reported being less happy, 11% said their happiness level was unchanged. One example noted by the report was the tech-hub of Austin, Texas. which has seen an influx of out-of-towners move to the area since the pandemic began. Many of those moving in grew up in the area and are returning after liv- ing somewhere else in order to be closer to family or are moving away from other high-cost tech hubs like New York City or San Francisco. "A majority of my buyers today are Texas natives who are thrilled to be coming home," said Debbie Newby, who is a Austin-based Redfin real estate agent. "I recently worked with one young couple who had been living in the Bay Area and working in tech. The wife grew up in Austin and wanted to move back to be closer to her family members, one of whom was ill. They bought a home Near Zilker Park in January and are now working remotely. They're ecstatic to be in Austin." "Most people who move relocate to somewhere less ex- pensive," Marr said. "Moving tends to make people happier because it means they're getting more bang for their buck— frequently in the form of additional space, better weather and schools, or a shorter commute to their workplace."

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