As they relocate for work, more homeowners are becoming renters, a survey finds.
The housing market slump isn't expected to keep Americans from relocating for work this summer, though many will be shifting from homeowners to renters, a new survey shows.
According to Relocation.com, a New York-based moving resources site, 19 percent of 1,200 people surveyed online said they will be moving into a rental property from a home they owned in the months ahead. Only 15 percent said they were going from renting to owning.
Employment continues to be the top reason cited for moving, followed by retirement, downsizing and other lifestyle changes, the survey found.
About 40 million Americans move every year, according to Census data. Typically, summer is the busiest season for movers.