According to a new report from Redfin (redfin.com), the technology-enabled real estate agent, 29.5% of Redfin.com users nationwide wanted to relocate to another metropolitan area in October. That’s a decrease from a high of 31.5% at the beginning of the year, but still higher than the 26% before the coronavirus pandemic. But when it comes to people moving away from Los Angeles, Phoenix is the number one destination. “With many employers making remote work permanent, we expect people to continue moving more frequently than before the pandemic,” said Redfin chief economist Daryl Fairweather. “What is likely to change are the places people move to. Popular Sunbelt migration destinations like Phoenix, Atlanta, and Austin are likely to fall out of favor as skyrocketing house prices have made them less affordable. Northern cities like Columbus, Harrisburg, and Indianapolis are likely to grow in popularity as homebuyers seek better value. ”ALSO READ: 8 of the Best Places to Live in Metro Phoenix Miami, Phoenix, and Sacramento are on the top metros -Home buyers looking to move to Miami, Phoenix, Sacramento, Las Vegas and Tampa were the top migratory destinations of any major U.S. metro in October, meaning they had the largest net inflows. Net inflow is a measure of how many more Redfin.com house hunters wanted to move onto a subway train than they left it. While the Sunbelt cities remain popular, four of the top 10 metros people wanted to move to in October – Sacramento, Las Vegas, Dallas, and Atlanta – saw fewer people move in than a year earlier. Sacramento, for example, saw a net inflow of 4,904 Redfin.com users, up from a net inflow of 6,369 in October 2020. San Francisco, Los Angeles, and New York are the top Metro homebuyers looking to leave San Francisco, Los Angeles, New In York, Washington, DC, and Seattle, more Redfin.com users than any other major metropolitan area aspired to leave the city in October, meaning they had the largest net outflows. Net runoff is a measure of how many more Redfin.com house hunters wanted to get off a subway than they move in. Dense, expensive cities often experience the greatest exodus of residents – a trend that accelerated during the pandemic as more Americans were able to move to cheaper places thanks to remote working. The full report, including charts and methodology, is available at https://www.redfin.com/news/october-2021-housing-migration-trends/
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