flexiblefullpage - default
Currently Reading

More Homebuyers Are Relocating for Affordability and Remote Work

Advertisement
billboard - default
Housing Markets

More Homebuyers Are Relocating for Affordability and Remote Work

A record number of homebuyers are relocating in search of more affordable homes. But where are they going?


September 28, 2023
Aerial view of Sacramento, California, from bridge
Image: Hanyun / stock.adobe.com

A record 26% of homebuyers are seeking to relocate to different parts of the country due to remote work and affordability concerns. Homebuyers are increasingly searching for affordable destinations, with nine of the top 10 migration destinations boasting lower median home-sale prices than the most common origin areas, Redfin reports. 

Sacramento, Calif., Las Vegas, and several Florida metros such as Orlando are among the most popular destinations. Meanwhile, expensive job centers like San Francisco, New York, and Los Angeles are experiencing net outflows as homebuyers search for more affordable housing options elsewhere.

Relocations are holding up better than in-metro moves largely because homebuyers are searching for affordability, and remote work gives many Americans the freedom to move. Nine of the 10 most popular migration destinations have a lower median home-sale price than the most common origin of homebuyers moving in. 

While research has shown that homebuyers consider climate risk when deciding where to live, affordability is often a more significant factor. A recent Redfin survey found that roughly 8% of U.S. residents likely to move within the next year are doing so because they’re concerned about the impact of climate change on their previous area, compared with 22% moving for a lower cost of living. 

Read more

 

Advertisement
leaderboard2 - default

Related Stories

Housing Markets

The Best Places to Buy a Home During Fall

These housing markets offer greater inventory and more affordable list prices during the fall season

Housing Markets

Taking a Bite of the Big Apple: NY Top City for Vampires in 2023

These are the best and worst U.S. cities for blood donors, basement dwellers, and garlic haters

Housing Markets

Topeka Named Top Emerging Housing Market

Buyers are flocking to this Kansas city to reap the benefits of affordable housing and a low cost of living

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Get your sales and marketing teams together to create and deliver a consistent brand message from start to finish

Pundits may not agree on the timing nor the severity of the next economic downturn, but one thing’s certain: these 10 essential tactics will boost your business' efficiency, productivity, and profit

A closer look at what’s propelling the adoption of off-site construction methods in home building

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.