The share of home buyers searching for a new place to live outside their metro area dipped slightly in April compared with the first quarter of 2021 but is still well above the percentage of people looking to relocate before the coronavirus pandemic, according to a report by Redfin real estate brokerage.
Nationally, 30.6 percent of Redfin users searched for a home outside their metro area in April, down slightly from 31.5 percent during the first quarter of 2021 and up from 26 percent in April 2020.
Redfin chief economist Daryl Fairweather said in a statement that the small decline in out-of-town searches in April could mean the migration trend is slowing or it could be an indication that buyers are waiting for more clarity on return-to-the-office policies. Migration from one metro area to another has been trending up since early in the pandemic because buyers are taking advantage of the ability to work remotely to move to locations that are more affordable, offer warmer weather or are close to family members.
As has been the case for most of the pandemic, many of the most popular markets for buyers looking to leave their metro area have been in warmer climates in the South and Southwest. Those top markets — and the top out-of-state origin for buyers in that area include:
1. Phoenix — with most out-of-state buyers coming from Los Angeles.
2. Las Vegas — with most out-of-state buyers coming from Los Angeles.
3. Sacramento — with most out-of-state buyers coming from Reno, Nev.
4. Austin — with most out-of-state buyers coming from San Francisco.
5. Atlanta — with most out-of-state buyers coming from New York.
6. Miami — with most out-of-state buyers coming from New York.
7. Dallas — with most out-of-state buyers coming from Los Angeles.
8. Tampa — with most out-of-state buyers coming from New York.
9. Cape Coral, Fl. — with most out-of-state buyers coming from Chicago.
10. Orlando — with most out-of-state buyers coming from New York.
The percentage of buyers looking to move into the above markets increased in each location from April 2020 compared with April 2021.
Following a similar pattern in previous years, many of the places with the most out-migration are big cities with a high cost of living. Those top markets — with the top out-of-state destination for buyers from those cities, include:
1. New York — with most buyers moving to Boston.
2. San Francisco — with most buyers moving to Seattle.
3. Los Angeles — with most buyers moving to Las Vegas.
4. Washington, D.C. — with most buyers moving to Salisbury, Md.
5. Denver — with most buyers moving to Seattle.
6. Seattle — with most buyers moving to Phoenix.
7. Chicago — with most buyers moving to Cape Coral, Fl.
8. Milwaukee — with most buyers moving to Chicago.
9. Boston — with most buyers moving to Portland, Maine.
10. Detroit — with most buyers moving to Cleveland.
The percentage of people looking to move out of the above cities increased in each location except New York, where 36 percent of buyers were searching out of town in April 2020, compared with 35.4 percent in April 2021.
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