Fewer homebuyers are looking to move to a different part of the country–but the dropoff isn’t as big as it is for those remaining close to home. To put the trend another way, people moving to a new metro make up a bigger piece of the homebuying pie than ever before, with a record 25.2% […]
Redfin.com home searches in out-of-town destinations have dropped 4% from a year ago, compared with a 16% drop for searches near home. Migration is holding up relatively well because high housing costs are pushing homebuyers to more affordable places, which is also the reason why a record one-quarter of home searchers are looking to move
Redfin.com user search data shows that 14% fewer homebuyers looked to move within their own metro area than a year earlier in February, compared with a 4% drop for out-of-town movers. The number of Redfin.com home searchers looking to relocate to a new metro fell 3.6% year over year in February. That compares with a
Cross-Country Movers Largely Undeterred By High Mortgage Rates Read More »
A record 25% of Redfin.com home searchers looked to move to a different U.S. metro in January, many in search of relatively affordable housing. Miami, Sacramento and Las Vegas were the most popular destinations. A record one-quarter (24.9%) of Redfin.com users nationwide looked to move to a different metro area in January as remote work
The typical Austin home costs six figures less than it did during the pandemic homebuying frenzy, but 6%-plus mortgage rates mean housing remains unaffordable for many locals. Austin’s median home sale price has dropped $135,000 from the apex it reached during the pandemic homebuying frenzy–but that doesn’t mean homes are affordable. The median-priced home in
Austin Homebuyers Need 27% More Income Than a Year Ago Despite Drop in Prices Read More »
Economic uncertainty and 6%-plus mortgage rates caused fewer Americans to purchase homes in the fourth quarter. But those who did buy relocated at an unprecedented rate due to remote work and the allure of more affordable options. A record one-quarter (24.6%) of Redfin.com users looked to move to a different metro area in the fourth