Once again, the Phoenix metro has the highest net inflow of home searchers hoping to move to the area, according to the latest quarterly Redfin data.
The home search and listing platform's report also found that the number of Redfin users looking to move to another metro grew from 23 percent to 25 percent annually in Q1, the highest level it has ever recorded. The analysis is based on a sample size of 1 million users in 87 metros during the first three months of 2019. Phoenix had the highest net inflow ever in its metro and for any metro to date in the net migration data report's history--7,949.
“People are feeling more confident about the economy and now feel financially secure enough to make a cross-country move to a metro where their money will go further,” said Redfin chief economist Daryl Fairweather. “Homeownership may be out of reach for current residents of San Francisco or New York, but there are plenty of affordable homes and lower taxes in places like Phoenix, Atlanta and Austin. As more workers move to these places, there is a chicken and egg phenomenon where more companies open offices, which attracts even more workers.”
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