Homebuyers Are Fleeing These 10 Cities — Here's Where They Want to Move Now
- Housing Market Slowdown: Only 1% of Homes Have Changed Ownership This Year
- These 5 Cities Have Seen a Huge Drop in Homes for Sale
- 1 in 3 Homebuyers Are Now Paying All Cash: Report
- Why a Record Share of Americans Think It’s a Bad Time to Buy a House
- Half of Homes on the Market Are Selling Within 2 Weeks — Despite High Mortgage Rates
The housing market may be cooling off, but that doesn’t mean buyers can afford homes where they live. Sometimes, the only way to find a home that fits your budget is to pick up and move.
That's exactly what many people are doing: As home prices continue to rise despite falling demand and sales, more buyers than ever are looking to relocate. According to new analysis from real estate brokerage Redfin, 32.6% of its users looked to move to a new city last quarter. It's a slight increase compared to the first quarter of 2022, when the figure was 32.3%, and it's the largest share of searchers looking to relocate since the firm began tracking this metric in 2017.
Before the pandemic, about 26% of Redfin users searched for homes outside their own cities in a given quarter. Redfin excludes searches that it determines to be unlikely to lead to an actual home purchase.
Top 10 cities people want to flee
