Only one New England city made the list.
With mortgage costs rising, more homebuyers from large urban areas like New York City and San Francisco are seeking to relocate to relatively affordable cities like Phoenix, Miami or Las Vegas, a new analysis finds.
Of all homebuyers that search for property on online real estate brokerage Redfin.com, 24.2% are looking for a home in a different metro area than where they live. This number has been growing, too, from about 18% in 2019,With more people working remotely and 30-year fixed mortgage rates nearly doubling in the last year to over 7%, swapping cities is one way that potential homeowners can help to lower living costs, the study says.
Out of 100 metro areas examined during the third quarter, the following 10 cities had the highest net inflow of property searches on Redfin's website. Net inflow is measured as the number of people looking to move into a metro minus the number of people looking to leave.
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