With
A whopping 25.4% of Redfin users looked at listings in a new city, up from 23% last year and below 20% before the pandemic.
In San Francisco, New York and Los Angeles, Redfin
Prospective homebuyers are looking for spacious, sunny cities instead. Phoenix, Las Vegas and Miami ranked the highest in search demand. Redfin saw more users looking to move there than leave, a difference of around 6,000 per city.
This increase in out-of-city searches occurs despite challenges that come with living in Sun Belt cities. Phoenix, which saw the highest re-locator search volume, just announced a
Florida, which saw high search volume in Miami, Tampa, Orlando, Sarasota and Cape Coral, is struggling with
A loophole in Florida allows for high legal fees in
Redfin chief economist Daryl Fairweather said people want to move to Phoenix and Florida despite these issues "because even though Sun Belt home prices soared during the pandemic, those metros remain a bargain for people relocating from expensive coastal cities."
The median home sale price in San Francisco is currently $1.4 million, according to Redfin. In New York it's $819,900 and in L.A., it's $950,000. In Phoenix, it's only $439,950.
Because remote work remains prevalent, employees can often choose where to work without worrying about an impossible commute. Remote work accounts for 34% of U.S. employees worked at home last year, according to the Bureau of Labor Statistics.
Redfin's report noted that the total number of homeowners looking to move is not increasing: it has gone down 7% in the past year. With high mortgage rates and