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 many said their new home is the same size or bigger. Key findings from a recent survey of Redfin.com users who moved to a different metro area from March 2020 […]
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. But the share of people moving from one part of the country to another is still well above pre-pandemic levels, and more people are moving into top destinations like Phoenix
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 cite lower taxes as one reason for their decision to move to a different area. For states with the lowest taxes, an average of four people moved in from other
For Low-Tax States, Four People Move In For Every One Person Who Leaves Read More »
Online searches for homes in suburbs and rural areas has increased since the first quarter of 2020 in most major U.S. metro areas, a piece of evidence that the pandemic has had a measurable impact on homebuyer preferences. In Charlotte, 58.4% of saved searches on Redfin.com were for homes in suburbs and rural areas—as opposed
With a record share of Redfin.com home searchers looking to move to another metro, out-of-towners are making it difficult for local residents to win bidding wars. The average out-of-towner moving to Phoenix has $630,000 to spend on a home, versus $510,000 for locals. Nationwide, 31.5% of Redfin.com users looked to move to a different metro
Nearly 40% of homes in the U.S. are selling for more than their asking price, the highest share on record. More than three out of five homes in San Jose, Sacramento, Salt Lake City, Austin and Denver sold above their asking price in the last month, driving the national share to an all-time high. Sacramento
