Homebuyers are flocking to the Sun Belt, in a continuation of a trend spawned by the COVID-19 pandemic.
According to Redfin data, 24.1% of buyers sought to move to a new city during the three months ending in November, a percentage the firm says is on par with the record high set in the summer and up from around 18% before the pandemic. And while Sacramento was the top migration destination in November, Sun Belt metros occupy most of the other top spots on Redfin's list, with Las Vegas nabbing the #2 spot, followed by Miami, Tampa and San Diego.
In addition, half of the top 10 cities are in Florida, and Refin analysts note that the typical home in eight of the top 10 is more affordable than in the most common origin for homebuyers moving in. Seven of the top 10 are in states with no state income tax.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
