A record 31% of Redfin.com users looked to move to a different metro in January, driven by homebuyers relocating to relatively affordable metro areas. Nationwide, 30.7% of Redfin.com users looked to move to a different metro in January, up from 25.9% during the same time period last year and the highest share since Redfin started
Twenty-eight percent of Redfin.com users looked to move to another metro area in 2020, up from 25.5% in 2019, driving double-digit inventory shortages in popular destinations. Nationwide, 27.8% of Redfin.com users looked to move to another metro area in 2020. That’s up from 25.5% in 2019, a 9% year-over-year increase. The increase is driven by
Affluent New Yorkers are flocking to Florida in search of sunshine and lower taxes during the pandemic. It’s fueling the luxury housing markets in West Palm Beach and Miami, where high-end home prices are up 18%. Luxury home sales in West Palm Beach, FL surged 116% year over year in the fourth quarter—a bigger gain
Out-of-towners have bigger budgets than locals in 31 of the 34 cities included in this analysis, and they’re driving up home prices. The average housing budget for out-of-towners moving to Nashville in 2020 was $719,500, 48% higher than the $485,500 average budget for local buyers. That’s according to an analysis of average maximum list-price filters
A record 30% of Redfin.com users looked to move to a different metro in the fourth quarter, a 16% uptick from the same time period last year. Nationwide, 30.3% of Redfin.com users looked to move to a different metro area in the fourth quarter of 2020, up from 29.2% in the third quarter and 26.2%
Pandemic-driven relocation is likely to continue throughout 2021. Twenty-seven percent of homebuyers believe migration will make the country less divided, but the same share believe it will make the country more divided. Two-thirds of homebuyers and sellers would consider moving—or already have moved—to a different city or area given the opportunity to work remotely permanently.
