Top Destinations for Homebuyers Looking to Move Within the US: Phoenix, Miami, Las Vegas, Tampa, and Orlando

2023-06-03 08:02:57

Phoenix and Miami are the most popular destinations for users looking for homes in another part of United States, followed by Las Vegas, Tampa and Orlando. Five of the top 10 destinations are in Florida, and almost all of them are in the Sun Belt.

Popularity is determined by net influxa measure of how many more homeowners looked to move within an area than to move outside, a Redfin study reported, adding that relatively affordable, low-tax, warm-weather metro areas are often popular for homebuyers moving to another part of the country.

They are destinations especially sought after by people leaving expensive coastal job centers: for example, Seattle (median sales price $770,000) is the most common origin for homebuyers moving to Phoenix ($439,000), and Los Angeles ($439,000). $830,000) is the most common origin for those moving to Las Vegas ($400,000).

Florida has skyrocketed in popularity as the pandemic-driven trend of remote work across the country took hold, with many Americans moving there in search of relatively affordable housing and sunshine.

This state continues to be a magnet for relocating homebuyers, many of whom come from cold northern metropolitan areas. New York is the most common origin for homebuyers moving to Miami, Tampa and Orlando, and Chicago is the most common for those moving to North-Port Sarasota and Cape Coral.

But as is the case nationally, the number of users moving to Florida’s metropolitan areas has declined over the past year as fewer people are buying homes overall. The net influx of homebuyers to Miami, for example, was nearly 13,000 a year ago and is now 7,500. The net inflow to Tampa was about 9,000 a year ago, up from about 6,000 now.

“About half the people who buy homes here are from out of town, and some are able to pay cash,” said Nicole Dege, agent for Orlando Redfin Premier.

Buyers leave coastal California and New York

More homebuyers are looking to move from San Francisco, New York, Los Angeles, Washington, DC and Boston than from any other metropolitan area in the country, the study found. The list of places homebuyers go is determined by net outflow, a measure of how many more homebuyers are looking to leave a metropolitan area than move.

Pricey coastal locations, especially tech hubs like the Bay Area and Seattle, typically top the list of places homebuyers go. Homes in those areas are expensive and people, especially remote workers, often move to places where housing and the overall cost of living are cheaper.

Flexible spaces, the most sought after by home buyers in the US

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