According to new data from Redfin.com [1], 29.5% of Redfin.com users looked to relocate to a different metropolitan area in October 2021. The technology-powered, full-service brokerage saw a peak of 31.5% earlier this year, which has declined since then, but the percentage still stands higher than the 26% levels seen prior to the coronavirus pandemic.
"With many employers making remote work permanent, we expect people to continue relocating at a higher rate than they did before the pandemic," said Redfin Chief Economist Daryl Fairweather. "What will likely change are the places people choose to relocate to. Popular Sunbelt migration destinations including Phoenix, Atlanta, and Austin will probably fall out of favor as skyrocketing home prices have rendered them less affordable. Northern cities like Columbus, Harrisburg, and Indianapolis will likely rise in popularity as homebuyers seek better bang for their buck."
Among the most researched and desired destinations were Miami, Phoenix, Sacramento, Las Vegas, and Tampa. These metroplexes were the most popular relocation destinations of any major U.S. metros in October, having had the largest net inflows. Net inflows measure how many more Redfin.com [2] home researchers looked to move into a metro rather than leave one.
While Sunbelt cities stretching from Southeast to Southwest remain popular, 4 of the top 10 metros people looked to relocate to in October were favored cities such as Sacramento, Las Vegas, Dallas, and Atlanta. Although these cities saw fewer people looking to move to the area less than a year earlier, Sacramento, for example, saw a net inflow of 4,904 Redfin.com [2] users--down from a net inflow of 6,369 in October 2020.
San Francisco, Los Angeles, New York, Washington, D.C., and Seattle saw more Redfin users looking to emigrate than any other major metro areas in October, meaning they had the largest net outflows. A net outflow measures how many more Redfin.com [2] home researchers looked to leave metropolitan areas than move in.
The more expensive and dense cities often experience the largest exodus of residents, and Redfin's report notes this trend that has only intensified during the pandemic thanks to a renewed focus on and availability of remote working.