According to a Redfin report , 24% of homebuyers searched to move to a different metro area between October 2023 and December 2023. The top five states with the highest inflow of homebuyers were Florida, North Carolina, Tennessee, South Carolina, and Arizona. In comparison, the top five states with an outflow of homebuyers were California, New York, Illinois, Massachusetts, and Washington D.C.
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Within this article, we will look into the cities that made the list and discuss why homebuyers might be considering moving to and away from each .
Cities Where People Are Leaving
“The No. 1 reason people move away from these cities is cost,” said Seamus Nally, CEO of TurboTenant . “It is simply just incredibly expensive to live in any of these places, so people are moving away out of necessity.
“So for those looking to actually purchase a home or simply not spend the entirety of their paycheck on rent for a small studio apartment, moving to a less expensive city/state is the best option.”