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Migration

Austin Homebuyers Need 27% More Income Than a Year Ago Despite Drop in Prices

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 »

A Record 25% of Home Searchers Looked to Move to a New Metro at the End of 2022 as High Housing Costs Drove Relocation

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

A Record 25% of Home Searchers Looked to Move to a New Metro at the End of 2022 as High Housing Costs Drove Relocation Read More »

Homebuyers Are Flocking to the Sun Belt, Attracted to Relatively Affordable Home Prices

The share of Redfin.com users moving away from their home metro is near its record high as 6%-plus mortgage rates and inflation cut into homebuying budgets. Places like Las Vegas and parts of Florida are especially popular. Nationwide, 24.1% of homebuyers looked to move to a different metro during the three months ending in November,

Homebuyers Are Flocking to the Sun Belt, Attracted to Relatively Affordable Home Prices Read More »

Homebuyers Are Looking to Relocate to Affordable Areas–Especially in Florida–Amid High Rates, Prices

The share of Redfin.com users looking to move to a different metro area is near its record high as high rates and prices up the appeal of affordable places. Coastal Florida is especially popular, even after getting pummeled by Hurricane Ian.  Nearly one-quarter (24.1%) of U.S. homebuyers looked to move to a different metro area

Homebuyers Are Looking to Relocate to Affordable Areas–Especially in Florida–Amid High Rates, Prices Read More »

Pandemic Boomtowns Phoenix and Miami Have Among the Highest Inflation Rates in the U.S.

The inflation rate in Phoenix, which attracted scores of out-of-town homebuyers during the pandemic, is more than double the inflation rate in the Bay Area, which saw an exodus of residents. The four U.S. metropolitan areas with the highest inflation rates in the third quarter are migration hotspots. Phoenix, Atlanta, Tampa, FL and Miami experienced

Pandemic Boomtowns Phoenix and Miami Have Among the Highest Inflation Rates in the U.S. Read More »

Nevada and Arizona Lost Democrats But Gained Independents as Californians Moved In During the Pandemic

Many Americans who were pushed out of pricey California moved to Nevada or Arizona in search of more affordable housing, perhaps registering as unaffiliated with a major party in the process. On the other side of the country, Florida pulled in many conservative people looking to live near people with similar views.  The Democratic party

Nevada and Arizona Lost Democrats But Gained Independents as Californians Moved In During the Pandemic Read More »

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