Phoenix is the No. 2 most popular migration destination
According to a new report from Redfin (redfin.com), the technology-enabled real estate agent, 30.3% of Redfin.com users nationwide wanted to relocate to another metropolitan area in October and November. That’s a decrease from a record high of 31.5% in the first quarter of 2021, but well above pre-pandemic levels. When it comes to places that people see as new potential homes, migration from Phoenix continues to pick up as the city becomes the second migratory destination in the United States.
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Homebuyers’ interest in moving to another part of the country accelerated when the coronavirus pandemic hit in the first half of 2020 and peaked earlier this year before declining slightly and stabilizing. Redfin.com users are showing significantly more interest in moving than before the pandemic, when the level was 25-26%.
“At the beginning of the pandemic, remote working gave homebuyers the opportunity to think about a new location,” said Redfin chief economist Daryl good weather. “Now the job market is incredibly tight, which means that homebuyers with personal pursuits can also move to a new place and be sure of finding a job in their new city.”
The Phoenix migration continues to grow
Miami was the most popular migration destination of all major U.S. metros for the fourth month in a row. Come next Phoenix, Las Vegas, Sacramento and Tampa. Two others Florida Metros also appear in the top 10, with Cape Coral Take seventh place and North harbor Coming on 10th The popularity of migration destinations is determined by net inflow, a measure of how many more Redfin.com house seekers wanted to pull into a subway than to get off.
Florida has become a particularly popular travel destination this year as teleworkers and retirees flock to the state in search of beaches, warm weather, low taxes, and cheaper housing than big east or west coast cities. Net inflow in Miami has almost tripled since then in the past year, and the net inflow in Tampa has almost doubled, with new York as the number one origin for Redfin.com users moving to both territories.
“More than half of my active clients are either investors or people moving from places like California, Oregon, new York and New Jersey“Said the agent from Miami Redfin Cristina Llanos placeholder image. “The resettlers are usually young remote workers who are moving there Miami for affordability and sunshine. One customer said he’s coming to Miami because they hate the snow; another would like to raise his children in an ethnically diverse city. “
Home buyers are leaving big cities like San Francisco, The angel and New York
San Francisco, The angel, new York, Washington, DC and Seattle at the top of the list of places Redfin.com users wanted to go in October and November. That’s net runoff, a measure of how many more Redfin.com house seekers wanted to get off a subway than they move in.
Large, expensive coastal cities tend to be high on the list of places Redfin.com users want to leave, a trend that has accelerated with the pandemic and remote working options. Many city dwellers with white-collar jobs can work remotely from cheaper locations with many leisure opportunities.
To read the full report, with charts and additional highlights at the Metro level, visit: https://www.redfin.com/news/november-2021-housing-migration-trends/
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