San Diego and Portland, Maine are picking up in popularity with out-of-town buyers, while movement into Miami, Sacramento and Phoenix is slowing. Plus, fewer homebuyers are leaving San Francisco than a year ago. The share of homebuyers looking to relocate jumped in July as high mortgage rates and home prices motivated Americans to move to
The Share of Homebuyers Looking to Relocate Jumped to New Record in July Read More »
Homebuyer incomes soared in pandemic boomtowns like Boise, Austin and parts of Florida, largely due to remote workers moving in from pricey job centers. Housing markets in many of those places are now slowing down. The typical Boise homebuyer earned $98,000 in 2021, up 24.1% from 2019. That’s the biggest homebuyer income increase of the
The Typical Income of a Boise Homebuyer is 24% Higher Than Before the Pandemic Read More »
Out-of-towners have bigger budgets than locals in relatively affordable destinations like Philadelphia, Atlanta and Dallas because many are remote workers moving in from more expensive places, often with high hometown salaries and proceeds from a home sale. The average out-of-towner moving to Philadelphia in the first half of 2022 had $588,000 to spend on a
Newcomers to Philadelphia Have Nearly 40% More to Spend on Homes Than Locals Read More »
Riverside, Boise, Phoenix and Tampa are among the markets where homeowners stand to lose some of the value they gained over the past two years. Still-affordable Rust Belt metros like Cleveland and Buffalo are most resilient. Popular migration destinations where home prices soared during the pandemic–including Boise, ID, Phoenix and Tampa, FL–are most likely to
Phoenix, Atlanta, Tampa and Miami, all Sun Belt metros popular with relocating homebuyers, have the highest inflation rates in the country. Housing prices make up a big portion of the rising costs in those places. The most popular destinations for relocating homebuyers have the highest inflation rates in the U.S., partly because they’re attracting so
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Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and other goods is limiting their ability to buy homes in many U.S. cities. A record 32.6% of Redfin.com users nationwide looked to move from one metro to another in the second quarter, up slightly from
