SEATTLE - A record one in four homebuyers nationwide (25.5 percent) searched for homes in metropolitan areas outside their current state in the second quarter, up from 23 percent a year earlier, according to a Redfin report. Before the pandemic, this figure was 19%.
The total number of buyers interested in moving to another state decreased by 7.5%; however, the percentage increased because the number of people interested in moving within their own state decreased even more, with a drop of 18%.
Of the ten most sought-after states for residence, Florida's major metropolitan areas accounted for 50% of the country's top cities. Tampa topped the list, and Las Vegas took the top spot, mainly due to the large number of Los Angeles residents who are looking for a new city in another state to call home.
Top 10 regions in the state in the 2nd quarter:
- Las Vegas: Net entry of 5,700 people. Main origin: Los Angeles
- Phoenix: Net entry of 5,300 people. Main origin: Seattle
- Tampa: Net entry of 5,000 people. Main origin: New York City
- Orlando: Net entry of 4,900 people. Main origin: New York City
- Sacramento, California: Net entry of 4,800 people. Main origin: Chicago
- North Port-Sarasota: Net inflow of 4,700 people. Main origin: New York City
- Cape Coral: Net entry of 4,100 people. Main origin: Chicago
- Dallas: Net entry of 4,100 people. Main origin: Los Angeles
- Miami: Net entry of 3,700 people. Main origin: New York City
- Houston: Net entry of 3,600 people. Main origin: New York City
Las Vegas took first place on Redfin's list for the first time. The report notes that a typical home in Las Vegas sells for $412,000, or less than half the price of a home in Los Angeles, and "It's a similar story for other popular migration destinations, which include Phoenix, Sacramento and several Florida metropolises."
Of the top ten, nine have lower average selling prices than the metropolis of origin of the buyers who move there.
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