COVID-19 MIGRATION

ABSTRACT COVID-19 has significantly affected the real estate industry. In Montana, an out-of-state buyer influx was anecdotally noted; a descriptive research study developed, and a survey of Montana realtors found 77.4% of realtors reported an increase in out-of-state buyer interest and closing; a significant number were noted to be coming from California, Washington, and Colorado for housing purchases between February and August 2020. Reasons for relocation efforts included predominately safety & security and COVID-19 related concerns. The research addresses the increase in real estate closings within the state, reasons for relocation, and addresses managerial implications for the findings relating to advertising, tourism, and contactless shopping used within this industry. Additional implications focus on the importance of contactless showings, national visibility (especially in specific states), and tourism focusing on stated reasons for relocation. The paper findings support a more focused understanding on who is moving to Montana during the COVID-19 pandemic and why they are relocating. These findings will help both real estate advertising campaigns and tourism industries with an understanding stated buyer motivation, which allows for a focus when pitching Montana for relocation and tourism.