{"id":77283,"date":"2023-12-29T05:00:42","date_gmt":"2023-12-29T13:00:42","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=77283"},"modified":"2023-12-28T13:04:21","modified_gmt":"2023-12-28T21:04:21","slug":"housing-migration-trends-november-2023","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-migration-trends-november-2023\/","title":{"rendered":"The Pandemic-Driven Migration Boom Is Waning, With the Share of Homebuyers Relocating at Lowest Level in 18 Months"},"content":{"rendered":"

The share of homebuyers moving to a different metro area is coming down from a peak as it becomes less feasible to work remotely. For those who are relocating, the most popular destinations are relatively affordable places like Sacramento, Las Vegas and Spokane, WA.\u00a0<\/span><\/i><\/p>\n

The share of U.S. homebuyers looking to move to a different metro area declined for the third straight month in November, dropping to 23.9%, the lowest share in a year and a half. That\u2019s down from 24.1% a year earlier\u2013a tiny drop, but the first annual decline in Redfin\u2019s records\u2013and down from a record high of 26% over the summer.<\/span><\/p>\n

\"\"<\/p>\n

The data in this report is based on the searches of about 2 million Redfin.com users who viewed for-sale homes online across more than 100 metro areas from September 2023 to November 2023. Redfin\u2019s records go back through 2017.\u00a0 Scroll down for the full methodology.\u00a0<\/span><\/p>\n

Overall homebuying slowed in 2023 because it was the <\/span>least affordable year<\/span><\/a> on record and there was a severe <\/span>supply shortage<\/span><\/a>. There were 4% fewer Redfin.com users looking to move to a new metro in November than a year ago, compared with a 3% year-over-year drop for Redfin.com users searching <\/span>within<\/span><\/i> their home metro. The slightly bigger drop for house hunters looking to relocate explains why migrants are making up a smaller share of overall home searchers. It will be interesting to see whether the migration rate declines or increases in the\u00a0 new year, as <\/span>we expect home sales to increase<\/span><\/a> as mortgage rates come down.<\/span><\/p>\n

The portion of house hunters who are relocating to a new area is coming down for a few reasons. One, there\u2019s less flexibility to work remotely as employers call workers <\/span>back to the office<\/span><\/a>. That means the flow of homebuyers moving from the Bay Area to Austin, TX or Boise, ID, for example, has slowed. Two, home prices generally increased more in popular migration destinations than they did in expensive coastal metros during the pandemic, making the case for moving a bit less compelling. For example, prices in Sacramento\u2013the most popular destination this month\u2013are up about 35% since before the pandemic, compared with an 8% increase in the Bay Area.\u00a0<\/span><\/p>\n

Still, the migration rate remains above pre-pandemic levels of around 19% as some <\/span>\u00a0Americans are still chasing affordability. All 10 of the most popular migration destinations have lower prices than the most common origin of buyers moving in.\u00a0<\/span><\/p>\n

Spokane, WA lands on list of popular destinations for the first time<\/h3>\n

Spokane has made it onto Redfin\u2019s list of popular migration destinations for the first time on record, landing at number 10. Popularity is determined by net inflow, a measure of how many more Redfin.com users looked to move into an area than leave.\u00a0<\/span><\/p>\n

The number-one origin of homebuyers moving to Spokane, the second most populous city in Washington, is Seattle, followed by Los Angeles and Portland, OR. Spokane has comparatively low housing costs: The typical Spokane home sells for $416,000, compared to $775,000 in Seattle.<\/span><\/p>\n

Sacramento, CA, Las Vegas and North Port, FL\u2013mainstays on the list of popular destinations\u2013landed at one, two and three in November. Like Spokane, they\u2019re all relatively affordable and popular with homebuyers moving in from expensive job centers.\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Top 10 Metros Homebuyers Are Moving Into, by Net Inflow\u00a0<\/b><\/p>\n

Net inflow = Number of Redfin.com home searchers looking to move into a metro area, minus the number of searchers looking to leave<\/span><\/i><\/td>\n<\/tr>\n

Metro<\/b>*<\/b><\/td>\nNet Inflow, Nov. 2023<\/b><\/td>\nNet Inflow, Nov. 2022<\/b><\/td>\nTop Origin<\/b><\/td>\nTop Out-of-State Origin<\/b><\/p>\n

\u00a0<\/span><\/td>\n<\/tr>\n

Sacramento, CA<\/span><\/td>\n5,100<\/span><\/td>\n7,000<\/span><\/td>\nSan Francisco, CA<\/span><\/td>\nNew York, NY<\/span><\/td>\n<\/tr>\n
Las Vegas, NV<\/span><\/td>\n3,800<\/span><\/td>\n6,400<\/span><\/td>\nLos Angeles, CA<\/span><\/td>\nLos Angeles, CA<\/span><\/td>\n<\/tr>\n
North Port-Sarasota, FL<\/span><\/td>\n3,700<\/span><\/td>\n3,700<\/span><\/td>\nNew York, NY<\/span><\/td>\nNew York, NY<\/span><\/td>\n<\/tr>\n
Cape Coral, FL<\/span><\/td>\n3,700<\/span><\/td>\n4,000<\/span><\/td>\nMiami, FL<\/span><\/td>\nChicago, IL<\/span><\/td>\n<\/tr>\n
Salisbury, MD<\/span><\/td>\n3,600<\/span><\/td>\n2,000<\/span><\/td>\nWashington, D.C.<\/span><\/td>\nWashington, D.C.<\/span><\/td>\n<\/tr>\n
Myrtle Beach, SC<\/span><\/td>\n3,600<\/span><\/td>\n2,800<\/span><\/td>\nWashington, D.C.<\/span><\/td>\nWashington, D.C.<\/span><\/td>\n<\/tr>\n
Orlando, FL<\/span><\/td>\n3,500<\/span><\/td>\n3,300<\/span><\/td>\nNew York, NY<\/span><\/td>\nNew York, NY<\/span><\/td>\n<\/tr>\n
Portland, ME<\/span><\/td>\n3,400<\/span><\/td>\n2,800<\/span><\/td>\nBoston, MA<\/span><\/td>\nBoston, MA<\/span><\/td>\n<\/tr>\n
Nashville, TN<\/span><\/td>\n3,000<\/span><\/td>\n2,800<\/span><\/td>\nLos Angeles, CA<\/span><\/td>\nLos Angeles, CA<\/span><\/td>\n<\/tr>\n
Spokane, WA<\/span><\/td>\n2,500<\/span><\/td>\n2,300<\/span><\/td>\nSeattle, WA<\/span><\/td>\nLos Angeles, CA<\/span><\/td>\n<\/tr>\n
*Combined statistical areas with at least 500 users searching to and from the region in Sept. 2023-Nov. 2023<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Los Angeles tops list of metros homebuyers are leaving for the first time<\/h3>\n

More homebuyers are leaving Los Angeles than any other metro area in the country. That marks the first time on record it has been the number-one place homebuyers are leaving, and the first time in over two years the Bay Area has dropped out of the number-one spot. The Bay Area comes in second, followed by New York. That\u2019s based on net outflow, a measure of how many more Redfin.com users are looking to leave a metro than move in.\u00a0<\/span><\/p>\n

Migration out of both Los Angeles and the Bay Area has slowed since the height of the pandemic, when remote workers were fleeing both California metros in favor of more affordable places. But Los Angeles has surpassed the Bay Area because the flow out of the Bay Area has steadily slowed, while the flow out\u00a0 of Los Angeles has picked back up in recent months.\u00a0<\/span><\/p>\n

Coastal job centers typically top the list of metros homebuyers are leaving, mainly because they\u2019re expensive. The median sale price in Los Angeles, for instance, is roughly double that of Las Vegas, the most common destination for homebuyers leaving the City of Angels.\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Top 10 Metros Homebuyers Are Leaving, by Net Outflow<\/b><\/p>\n

Net outflow = Number of Redfin.com home searchers looking to leave a metro area, minus the number of searchers looking to move in<\/span><\/i><\/td>\n<\/tr>\n

Metro<\/b>*<\/b><\/td>\nNet Outflow, Nov. 2023<\/b><\/td>\nNet Outflow, Nov. 2022<\/b><\/td>\nTop Destination<\/b><\/td>\nTop Out-of-State Destination<\/b><\/p>\n

\u00a0<\/span><\/td>\n<\/tr>\n

Los Angeles, CA<\/span><\/td>\n26,100<\/span><\/td>\n30,300<\/span><\/td>\nLas Vegas, NV<\/span><\/td>\nLas Vegas, NV<\/span><\/td>\n<\/tr>\n
San Francisco, CA<\/span><\/td>\n25,400<\/span><\/td>\n32,000<\/span><\/td>\nSacramento, CA<\/span><\/td>\nSeattle, WA<\/span><\/td>\n<\/tr>\n
New York, NY<\/span><\/td>\n24,900<\/span><\/td>\n20,700<\/span><\/td>\nMiami, FL<\/span><\/td>\nMiami, FL<\/span><\/td>\n<\/tr>\n
Washington, D.C.\u00a0<\/span><\/td>\n13,300<\/span><\/td>\n16,100<\/span><\/td>\nSalisbury, MD<\/span><\/td>\nSalisbury, MD<\/span><\/td>\n<\/tr>\n
Seattle, WA<\/span><\/td>\n11,900<\/span><\/td>\n1,300<\/span><\/td>\nSpokane, WA<\/span><\/td>\nPhoenix, AZ<\/span><\/td>\n<\/tr>\n
Chicago, IL<\/span><\/td>\n7,600<\/span><\/td>\n7,100<\/span><\/td>\nCape Coral, FL<\/span><\/td>\nCape Coral, FL<\/span><\/td>\n<\/tr>\n
Boston, MA<\/span><\/td>\n5,000<\/span><\/td>\n6,100<\/span><\/td>\nPortland, ME<\/span><\/td>\nPortland, ME<\/span><\/td>\n<\/tr>\n
Philadelphia, PA<\/span><\/td>\n3,000<\/span><\/td>\n1,300<\/span><\/td>\nSalisbury, MD<\/span><\/td>\nSalisbury, MD<\/span><\/td>\n<\/tr>\n
Detroit, MI<\/span><\/td>\n2,100<\/span><\/td>\n3,400<\/span><\/td>\nWashington, D.C.<\/span><\/td>\nWashington, D.C.<\/span><\/td>\n<\/tr>\n
Denver, CO<\/span><\/td>\n2,000<\/span><\/td>\n3,200<\/span><\/td>\nChicago, IL<\/span><\/td>\nChicago, IL<\/span><\/td>\n<\/tr>\n
*Combined statistical areas with at least 500 users searching to and from the region in Sept. 2023-Nov. 2023<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span>Below is a map of the most common origins of Redfin.com users who are moving to the Sacramento metro. To view similar maps for the metros in this report and other metros, please visit the area\u2019s <\/span>Redfin housing market page<\/span><\/a> and scroll down to the \u201cmigration\u201d section.\u00a0<\/span>
\n \"Map<\/a>
\nMethodology<\/b><\/p>\n

Our migration analysis is based on about two million Redfin.com users who viewed for-sale homes online across more than 100 metro areas from September 2023 to November 2023. To measure the share of homebuyers looking to relocate from one metro to another, we calculate the portion of overall home searchers that are migrants.\u00a0<\/span><\/p>\n

A Redfin.com user counts as a migrant if they viewed at least 10 for-sale homes in the relevant three-month period and at least one of those homes was outside their home metro area. For instance, if a Redfin.com user based in <\/span>Seattle<\/span><\/a> views 10 homes in a three-month period and all of them are in <\/span>Phoenix<\/span><\/a>, that user counts as a full migrant to <\/span>Phoenix<\/span><\/a>. If a user based in <\/span>Seattle<\/span><\/a> views 10 homes in a three-month period and five are in <\/span>Phoenix<\/span><\/a> but five are in <\/span>San Diego<\/span><\/a>, that user counts as half of a migrant to <\/span>Phoenix<\/span><\/a> and half of a migrant to <\/span>San Diego<\/span><\/a>. If a user based in <\/span>Seattle<\/span><\/a> views 10 homes in a three-month period, nine in <\/span>Seattle<\/span><\/a> and one in <\/span>Phoenix<\/span><\/a>, that user counts as one-tenth of a migrant to <\/span>Phoenix<\/span><\/a>.\u00a0<\/span><\/p>\n

The analysis includes combined statistical areas with at least 500 Redfin.com users based in that region and at least 500 users searching for homes in that region. For instance, a user based in <\/span>Seattle<\/span><\/a> searching for a home in <\/span>Phoenix<\/span><\/a> counts toward the first condition, a user based in <\/span>Phoenix<\/span><\/a> searching for a home in <\/span>Seattle<\/span><\/a> counts toward the second condition, and a user based in <\/span>Seattle<\/span><\/a> searching for a home in <\/span>Seattle<\/span><\/a> counts toward both. Redfin\u2019s migration data goes back to 2017.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The share of homebuyers moving to a different metro area is coming down from a peak as it becomes less feasible to work remotely. For those who are relocating, the most popular destinations are relatively affordable places like Sacramento, Las Vegas and Spokane, WA.\u00a0 The share of U.S. homebuyers looking to move to a different […]<\/p>\n","protected":false},"author":13153,"featured_media":77285,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[42],"tags":[21,623],"coauthors":[124],"class_list":["post-77283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-migration","tag-migration","tag-national"],"acf":[],"yoast_head":"\nThe Pandemic-Driven Migration Boom Is Waning, With the Share of Homebuyers Relocating at Lowest Level in 18 Months - Redfin Real Estate News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/housing-migration-trends-november-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Pandemic-Driven Migration Boom Is Waning, With the Share of Homebuyers Relocating at Lowest Level in 18 Months\" \/>\n<meta property=\"og:description\" content=\"The share of homebuyers moving to a different metro area is coming down from a peak as it becomes less feasible to work remotely. For those who are relocating, the most popular destinations are relatively affordable places like Sacramento, Las Vegas and Spokane, WA.\u00a0 The share of U.S. homebuyers looking to move to a different […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-migration-trends-november-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-29T13:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/12\/truck-2677373_1280.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dana Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dana Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-migration-trends-november-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-migration-trends-november-2023\\\/\"},\"author\":{\"name\":\"Dana Anderson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\"},\"headline\":\"The Pandemic-Driven Migration Boom Is Waning, With the Share of Homebuyers Relocating at Lowest Level in 18 Months\",\"datePublished\":\"2023-12-29T13:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-migration-trends-november-2023\\\/\"},\"wordCount\":1343,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-migration-trends-november-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/truck-2677373_1280.jpg\",\"keywords\":[\"Migration\",\"national\"],\"articleSection\":[\"Migration\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-migration-trends-november-2023\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-migration-trends-november-2023\\\/\",\"name\":\"The Pandemic-Driven Migration Boom Is Waning, With the Share of Homebuyers Relocating at Lowest Level in 18 Months - 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