Here we go again – people don’t want to leave San Diego! It will be interesting to see if this hot summer throughout the country causes more of the affluent people to head our way.

Based on an analysis of 100 metro areas, the following 10 cities had the highest net inflow of property searches on Redfin’s website. Net inflow is the number of people looking to move into a city minus the number of people looking to leave.

Las Vegas: 5,700
Phoenix: 5,300
Tampa, Florida: 5,000
Orlando, Florida: 4,900
Sacramento, California: 4,800
North Port-Sarasota, Florida: 4,700
Cape Coral, Florida: 4,100
Dallas: 4,100
Miami: 3,700
Houston: 3,600

For all cities on this list, the largest number of potential out-of-town homebuyers are from either Los Angeles, Seattle, New York or Chicago, according to the study. This makes sense, as those are some of the cities where the most homebuyers seemingly want to leave.

Here are the 10 metros with the largest net outflow of property searches, which measures the number of search queries interested in leaving a metro area minus the number of search queries about moving to that same city.

San Francisco: 28,100
New York City: 24,200
Los Angeles: 20,900
Washington, D.C.: 15,700
Chicago: 4,900
Boston: 4,400
Seattle: 3,900
Hartford, Connecticut: 3,500
Denver: 2,300
Detroit: 2,300

The search patterns suggest homebuyers are looking to leave large coastal hubs for cities in low-tax states that have considerably cheaper home prices.

For instance, most out-of-town buyers looking for properties in Las Vegas are from Los Angeles. The median cost of a home in Las Vegas is $412,500 as of June, nearly half the $975,000 median cost for homes in Los Angeles, according to Redfin’s data.

For the purposes of the study, a person browsing Redfin counts as a migrant if they’ve viewed 10 properties in another city over the three months ending June 2023. The net inflow and outflow rankings were compiled based on the total number of migrants.

https://www.cnbc.com/2023/07/30/1-in-4-us-homebuyers-want-to-move-to-a-new-city.html