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.

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.

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