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Out-of-towners prefer upscale areas

A new study¹ offers an interesting peek into the search habits of today’s homebuyers. Take a look:

• In expensive metro areas‚ out-of-town buyers research more upscale zip codes while local buyers hunt for bargains.
• However‚ the opposite is the case in less expensive metros: locals aim for pricier areas; those searching from a distance look for low-cost options.
• Lexington appears to be bucking the national trend: the median home value is $1‚027‚500; 70% of online searches are by locals.

As the #1 mortgage company in Greater Lexington for 17 consecutive years‚ Capstone Mortgage is here to provide guidance and support.

¹Alexandra Lee‚ “Who’s searching for homes in your neighborhood: locals or out-of-towners?” Trulia‚ last updated February 28‚ 2019.