Skyrocketing home prices and rising mortgage rates have made relocating to a more affordable area the only viable option for some prospective homebuyers.

Nearly one-third (32.3%) of Redfin users looked to move away from their hometown in the first quarter, an all-time high, according to a new report from the real estate brokerage.

That represents an increase from 31.5% a year earlier and up significantly from 26% in 2019.

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