Homebuyers Are Searching For Homes In Less Expensive Cities

August 10, 2017

People in San Francisco, Los Angeles, and New York City have dreams of moving somewhere less expensive.

According to Redfin’s migration report for the second quarter of 2017, those three cities were atop the list of highest net outflow, where the number of people searching for homes in another metro was greater than the number of people in other metros looking to move in.

Californians prefer to stay in state, according to the report. Sacramento is a popular alternative for San Franciscans, and Los Angelinos are searching for homes in San Diego.

San Diego and Sacramento had the highest net inflow rates, based on the number of Redfin users who searched for homes there. Other popular destinations included Phoenix, Las Vegas, and Atlanta.

Chicago, Boston, and Seattle had the highest share of residents looking to stay within their own metro.

Twenty-one percent of Redfin.com users in the second quarter of 2017 searched for homes outside the metro where they reside, up slightly from nearly 20 percent in the first quarter.

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PB-Economics,PB-Industry Data + Research,PB-Single Family Homes
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