panda
Well-known member
Interesting article on the migration trends of 2018, leaving over priced markets like Denver, San Francisco, and Los Angeles. What was interesting is that I can where most of the migration into the Atlanta market is taking place.
Top cities migration into Atlanta.
1. NYC 35.7%
2. DC 8.0%
3. Los Angeles 7.5%
4. Bay Area 5.3%
Source: https://www.redfin.com/blog/2018/10/q3-2018-migration-report.html
2018 Migration Trends accelerate as more people look to leave Denver, San Francisco, and Los Angeles
Written byTim Ellison October 24, 2018
As mortgage rates climb, affordability in the most expensive markets has suffered, driving more people to affordable, low-tax inland job centers in states like Florida, Texas and Tennessee.
In the third quarter of 2018 people continued to move away from high-cost coastal markets like San Francisco, New York, Los Angeles and Washington, D.C., in increasing numbers. Meanwhile, more affordable areas like Sacramento, Atlanta and Phoenix continued to draw thousands of potential new residents. The latest migration analysis is based on a sample of more than 1 million Redfin.com users who searched for homes across 80 metro areas from July through September.
Nationally, 25 percent of Redfin.com home searchers looked to move to another metro area in the third quarter, compared to 22 percent during the same period last year. Affordability continues to be a driving factor causing people to move away from the coasts.
?Rising mortgage rates are exacerbating affordability issues that have been driving people out of expensive coastal metros for the past few years,? said Redfin chief economist Daryl Fairweather. ?With rates no longer near historic lows, buyers are increasingly cost-conscious, seeking more affordable homes in low-tax states in the South and middle of the country.?
Moving Out ? Metros with the Highest Net Outflow of Redfin Users
San Francisco, New York, Los Angeles, Washington, D.C. and Denver posted the highest net outflows in the third quarter. Net outflow is defined as the number of people looking to leave the metro minus the number of people looking to move to the metro. A net outflow means there are more people looking to leave than people looking to move in, while a net inflow means more people are looking to move in than leave.
Top cities migration into Atlanta.
1. NYC 35.7%
2. DC 8.0%
3. Los Angeles 7.5%
4. Bay Area 5.3%
Source: https://www.redfin.com/blog/2018/10/q3-2018-migration-report.html
2018 Migration Trends accelerate as more people look to leave Denver, San Francisco, and Los Angeles
Written byTim Ellison October 24, 2018
As mortgage rates climb, affordability in the most expensive markets has suffered, driving more people to affordable, low-tax inland job centers in states like Florida, Texas and Tennessee.
In the third quarter of 2018 people continued to move away from high-cost coastal markets like San Francisco, New York, Los Angeles and Washington, D.C., in increasing numbers. Meanwhile, more affordable areas like Sacramento, Atlanta and Phoenix continued to draw thousands of potential new residents. The latest migration analysis is based on a sample of more than 1 million Redfin.com users who searched for homes across 80 metro areas from July through September.
Nationally, 25 percent of Redfin.com home searchers looked to move to another metro area in the third quarter, compared to 22 percent during the same period last year. Affordability continues to be a driving factor causing people to move away from the coasts.
?Rising mortgage rates are exacerbating affordability issues that have been driving people out of expensive coastal metros for the past few years,? said Redfin chief economist Daryl Fairweather. ?With rates no longer near historic lows, buyers are increasingly cost-conscious, seeking more affordable homes in low-tax states in the South and middle of the country.?
Moving Out ? Metros with the Highest Net Outflow of Redfin Users
San Francisco, New York, Los Angeles, Washington, D.C. and Denver posted the highest net outflows in the third quarter. Net outflow is defined as the number of people looking to leave the metro minus the number of people looking to move to the metro. A net outflow means there are more people looking to leave than people looking to move in, while a net inflow means more people are looking to move in than leave.