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Nationwide, 30.3% of Redfin.com users looked to move to a different metro area in October and November, according to a new report from Redfin, the technology-powered real estate brokerage. That's down from a record-high 31.5% in the first quarter of 2021 but well above pre-pandemic levels.
Redfin.com users are showing significantly more interest in relocating than before the pandemic, when levels stood at 25% to 26%.
"At the beginning of the pandemic, remote work gave homebuyers the opportunity to consider a new location," said Redfin Chief Economist Daryl Fairweather. "Now the labor market is incredibly tight, which means even homebuyers with in-person occupations can move somewhere new and be confident they can secure employment in their new town."
Influx of homebuyers into South Florida continues
Miami was the most popular migration destination of any major U.S. metro for the fourth month in a row. Next come Phoenix, Las Vegas, Sacramento and Tampa.
Homebuyers are leaving big cities like San Francisco, Los Angeles and New York
Big, expensive coastal cities typically top the list of places Redfin.com users are looking to leave, a trend that has accelerated with the pandemic and remote-work options. Many big-city dwellers with white-collar jobs are able to work remotely from more affordable locations with a lot of recreational opportunities.
To read the full report, including charts and additional metro-level highlights, please visit: https://www.redfin.com/news/november-2021-housing-migration-trends/
Source: Redfin
