share of homebuyers looking to move down slightly in October | State


SEATTLE, November 29, 2021 / PRNewswire / – (NASDAQ: RDFN) —National, 29.5% of Redfin.com users sought to relocate to another metropolitan area in October, according to a new report by Redfin (redfin.com), technology-based real estate brokerage. That’s down from a peak of 31.5% at the start of the year, but still above the 26% levels seen before the coronavirus pandemic.

“With many employers making remote working permanent, we expect people to continue to move at a faster rate than before the pandemic,” said Redfin’s chief economist. Daryl fairweather. “What is likely to change are where people choose to settle. Popular Sunbelt migration destinations, including Phoenix, Atlanta and Austin will likely fall out of favor, as soaring house prices have made them less affordable. Northern cities like Columbus, Harrisburg and Indianapolis is likely to gain popularity as buyers seek more value for money. “

Miami, Phoenix and Sacramento are the main buyers of subways in which to settle

Miami, Phoenix, Sacramento, Las Vegas and Tampa were the most popular migration destinations of any major US metropolis in October, meaning they had the biggest net inflows. A net inflow is a measure of the number of other Redfin.com house seekers sought to move into a subway rather than leave.

While the towns of Sunbelt remain popular, four of the top 10 subways people wanted to move to in October: Sacramento, Las Vegas, Dallas and Atlanta, saw fewer people looking to move in than a year earlier. Sacramento, for example, recorded a net inflow of 4,904 Redfin.com users, down from a net inflow of 6,369 in October 2020.

Table: Top 10 metros by net inflow of users and their main origins

Rank

Metro*

Report

Influx,

October

2021??

Report

Influx,

October

2020

Part of

Searches for

External users

the Subway,

October 2021

Part of

Searches for

Users outside

Metro, October

2020

Superior origin

Top off

State of origin

1

Miami, Florida

6,897

2,226

32.1%

26%

New York, New York State

New York, New York State

2

Phoenix, Arizona

6,343

5 554

35.8%

36.2%

Los Angeles, CA

Los Angeles, CA

3

Sacramento, California

4,904

6 369

41%

49.7%

San Francisco, California

Seattle, WA

4

Las Vegas, Nevada

4 713

5 751

42.6%

52.5%

Los Angeles, CA

Los Angeles, CA

5

Tampa, Florida

4 365

2,896

46.2%

55.7%

Orlando, Florida

New York, New York State

6

Dallas, Texas

3,717

4,247

25.2%

31.2%

Los Angeles, CA

Los Angeles, CA

7

San Antonio, Texas

3 142

1,558

42.6%

43.3%

Houston, TX

Los Angeles, CA

8

Cape Coral, Florida

3,025

2,050

68.9%

75.8%

Chicago, Illinois

Chicago, Illinois

9

Atlanta, Georgia

3 019

4,629

20%

26.4%

New York, New York State

New York, New York State

ten

North Port, Florida

2 876

1,536

66.1%

77.9%

Chicago, Illinois

Chicago, Illinois

* Statistical areas combined with at least 500 users in October 2021

† Of the 2 million users sampled for this analysis alone

San Francisco, Los Angeles and New York are the best subways homebuyers want to leave

San Francisco, Los Angeles, new York, Washington DC and Seattle seen more Redfin.com users looking to depart from all other major metropolitan areas in October, meaning they had the largest net exits. A net exit is a measure of the number of other Redfin.com house seekers sought to leave a subway rather than move into it.

Dense, expensive cities often experience the greatest exodus of residents – a trend that intensified during the pandemic as more Americans were able to move to more affordable places through remote working.

Table: 10 main metros by net user exit and their main destinations

Rank

Metro*

Report

Exit,

October

2021??

Report

Exit,

October

2020 ‡

Part of

Local users

Research

Somewhere else,

October

2021

Part of

Local users

Research

Somewhere else,

October 2020

Mountain peak

Destination

Top off

State

Destination

1

San Francisco, California

31 820

25 956

22.4%

23.6%

Sacramento, California

Seattle, WA

2

Los Angeles, CA

26,035

16 134

19.2%

17.8%

San diego, california

Phoenix, Arizona

3

New York, New York State

16 921

28,046

26.1%

34.8%

Philadelphia, Pennsylvania

Philadelphia, Pennsylvania

4

Washington DC

11,805

7 919

14.6%

12.7%

Salisbury, MD

Salisbury, MD

5

Seattle, WA

8,706

1,102

15.7%

13.4%

Los Angeles, CA

Los Angeles, CA

6

Boston, Massachusetts

5 637

-331

15.6%

11.7%

Portland, ME

Portland, ME

7

Chicago, Illinois

4,107

4 916

12.4%

12.2%

Cape Coral, Florida

Cape Coral, Florida

8

Denver, CO

1,865

2 706

25.5%

26.9%

Chicago, Illinois

Chicago, Illinois

9

Detroit, Michigan

1,586

280

25.8%

20.9%

Grand Rapids, Michigan

Chicago, Illinois

ten

Minneapolis, Minnesota

842

-870

20.5%

17.1%

Chicago, Illinois

Chicago, Illinois

* Statistical areas combined with at least 500 users in October 2021

† Of the 2 million users sampled for this analysis alone

‡ Negative values ​​indicate net inflow

To view the full report, including charts and methodology, please visit:

https://www.redfin.com/news/october-2021-housing-migration-trends/

About Redfin

Redfin (www.redfin.com) is a technology-driven real estate company. We help people find housing through brokerage, Instant Home Buyers (iBuying), rentals, loans, title insurance and renovations. We sell houses for more money and charge half the cost. We also manage the first real estate brokerage site in the country. Our homebuying clients see homes with on-demand tours first, and our loan and title services help them close quickly. Customers selling a home can receive an instant cash offer from Redfin or have our home improvement team fix their home to sell it for the best price. Our rental business enables millions of people across the country to find apartments and houses for rent. Since our launch in 2006, we have saved more than $ 1 billion in committee. We serve over 100 markets across the United States and Canada and employs over 6,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn more about housing market trends and download data, visit Redfin Data Center. To be added to Redfin’s press release mailing list, send an email [email protected]. To consult the Redfin press center, Click here.

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SOURCE Redfin


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