Nearly one in three homebuyers are looking to relocate, a historic high.

A record 32.4% of Redfin.com users nationwide were searching in entirely new metro areas than where they lived in January, up from a previous high of 31.5% in the first quarter of last year.  Prior to the pandemic, about one-quarter of homebuyers were looking to relocate.

And that number is expected to continue to climb, thanks to increasing mortgage rates and deepening affordability in major cities.

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