{"id":76960,"date":"2023-10-25T06:00:48","date_gmt":"2023-10-25T13:00:48","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=76960"},"modified":"2023-10-26T09:26:26","modified_gmt":"2023-10-26T16:26:26","slug":"housing-migration-trends-q3-2023","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-migration-trends-q3-2023\/","title":{"rendered":"Austin, Once a Migration Hotspot, Is Losing Homebuyers to Other Cities For First Time on Record"},"content":{"rendered":"

Homebuyers are looking to leave Austin as housing costs stay high, and some recent transplants move back to their hometowns. On the other side of the coin, Sacramento, Las Vegas and Orlando are the most popular destinations for homebuyers despite increasing climate risk.\u00a0<\/span><\/i><\/p>\n

More homebuyers looked to leave Austin, TX than move in during the third quarter, the first time on record there hasn\u2019t been a net inflow into the Texas capital.\u00a0<\/span><\/p>\n

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The number of Austin-based Redfin.com users looking for homes outside the metro area has more than doubled over the last year.\u00a0<\/span><\/p>\n

The data in this report is based on the searches of about two million Redfin.com users who viewed for-sale homes online across more than 100 metro areas from July 2023 to September 2023. Redfin\u2019s records go back through 2017.\u00a0 Scroll down for the full methodology.\u00a0<\/span><\/p>\n

This marks a stark reversal for Austin, which was a magnet for out-of-town homebuyers looking for a more affordable place to live even before the pandemic. Once the pandemic began, ushering in an era of remote work and record-low mortgage rates, Austin\u2019s popularity boomed: It was the number-one U.S. migration destination in the beginning of 2021.\u00a0<\/span><\/p>\n

Austin has fallen out of favor with relocating homebuyers for several reasons:<\/b><\/p>\n