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- Redfin reports Florida, Las Vegas and Phoenix are the most popular destinations, with many movers chasing affordability and sunshine<\/i><\/li>\n
- New York, Seattle, Los Angeles and other expensive metros top the list of places people are leaving; when people leave those places, they typically go to sunny Sun Belt locales<\/i><\/li>\n<\/ul>\n
SEATTLE–(BUSINESS WIRE<\/a>)–
\nRoughly one in five (19.1%) U.S. house hunters looked to move from one part of the country to another in the first quarter. That\u2019s up slightly from 18.9% a year earlier and the highest share in records dating back to 2021, according to a new report<\/a> from Redfin<\/a>, the real estate brokerage powered by Rocket.<\/p>\n\nA record portion of Americans are looking to relocate partly because of affordability pressures. Housing costs are near record highs<\/a> because mortgage rates and sale prices remain stubbornly high, and inflation is pushing up the cost of living for other everyday expenses. That\u2019s motivating people to move from expensive areas to more affordable areas. Orlando, FL, for instance, is the most popular destination for relocating house hunters. The typical Orlando home costs just over $400,000<\/a>, roughly half the cost of the typical home in New York, the most common origin for people moving there.<\/p>\n
\nAnother factor is boomerang migration. Some Americans are moving away from places they moved to during the pandemic. For instance, about 1,700 more people left Charlotte, NC than moved in during the first quarter, compared to a net inflow of about 3,200 five years earlier. Austin, TX lost about 300 more residents than it gained during the first quarter, compared to a net inflow of 14,000 five years earlier.<\/p>\n
\nNote that while the share of house hunters looking to relocate has risen to a record high, that doesn\u2019t mean the number of relocators is at a record high. Overall homebuying activity is sluggish, so the total number of migrants is likely lower than it was back in 2021 or 2022, when a smaller share of a larger pool of buyers was looking to relocate.<\/p>\n
Florida Dominates List of Most Popular Destinations<\/b><\/p>\n
\nOrlando, FL was the most popular destination for relocating house hunters in the first quarter. It\u2019s followed by three other Florida metros: North Port, Miami and Cape Coral. Tampa came in sixth, after Las Vegas. Popularity is determined by net inflow, a measure of how many more Redfin.com<\/a> users looked to move into an area than leave.<\/p>\n
\nHalf of the most popular destinations are in Florida, and all are relatively affordable, especially compared to the places people are most commonly leaving. All of the most popular destinations are in the Sun Belt, and all have warm, sunny weather.<\/p>\n
\nFlorida Redfin agents say that the Sunshine State has always attracted a lot of people from the north, especially retirees, who move in for the warm weather and beachy lifestyle. More recently, they say there has been an uptick in people moving to Florida for job opportunities. The state\u2019s \u2018Space Coast\u2019, for example, is home to outposts of companies like SpaceX and Blue Origin that attract a lot of engineers and other tech workers from places like Seattle and California.<\/p>\n
- New York, Seattle, Los Angeles and other expensive metros top the list of places people are leaving; when people leave those places, they typically go to sunny Sun Belt locales<\/i><\/li>\n<\/ul>\n
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