Housing Market News
Migration
Out-of-Towners Moving to Austin Spend $22,500 More on Homes Than Locals
Homebuyers who relocated to Austin during the pandemic paid an average of 7.8% above asking price, versus 3.7% above asking price for locals. This Redfin
Interest in Relocating Remains Elevated, With Nearly 1 in 3 Redfin.com Users Looking to Move to a Different Metro
Phoenix, Las Vegas and Sacramento are among the most popular destinations as remote work allows people the freedom to move from expensive job centers to
More Than 31% of Homebuyers Are Looking to Move to Another Metro, With Pandemic-Driven Migration Pushing Up Prices in Popular Destinations
Phoenix, Austin and Sacramento were three of the five most popular migration destinations in May, and they’re also among the top five metros with the
Eight out of 10 People Who Relocated During the Pandemic Are in a Similar or Better Financial Position Post-Move
About two-thirds of surveyed Redfin.com users who moved to a different metro over the last year have the same or lower housing costs; almost as
The Wave of Pandemic-Era Relocations Continued in April, With Nearly 31% of Homebuyers Looking to Move to Another Metro
The swell of relocations eased slightly in April from the first quarter, when 31.5% of Redfin.com users searched for homes in a different metro area.
For Low-Tax States, Four People Move In For Every One Person Who Leaves
The trend is reversed in high-tax states, where an average of 2.5 people leave for every one person who moves in. One in five homebuyers
Out-of-Town Moves Have Fallen 6% From a Year Ago, Compared With 17% Drop For In-Town Moves
Fewer homebuyers are looking to move to a different part of the country–but the dropoff isn’t as big as it is for those remaining close
Out-of-Town Moves Remain Popular As High Housing Costs Push Homebuyers to Affordable Areas
Redfin.com home searches in out-of-town destinations have dropped 4% from a year ago, compared with a 16% drop for searches near home. Migration is holding
Cross-Country Movers Largely Undeterred By High Mortgage Rates
Redfin.com user search data shows that 14% fewer homebuyers looked to move within their own metro area than a year earlier in February, compared with
Miami Is the Most Popular Metro For Relocators, With Homebuyers Drawn to Comparatively Low Costs
A record 25% of Redfin.com home searchers looked to move to a different U.S. metro in January, many in search of relatively affordable housing. Miami,
A Record 25% of Home Searchers Looked to Move to a New Metro at the End of 2022 as High Housing Costs Drove Relocation
Economic uncertainty and 6%-plus mortgage rates caused fewer Americans to purchase homes in the fourth quarter. But those who did buy relocated at an unprecedented
Homebuyers Are Flocking to the Sun Belt, Attracted to Relatively Affordable Home Prices
The share of Redfin.com users moving away from their home metro is near its record high as 6%-plus mortgage rates and inflation cut into homebuying
