Redfin, the real estate company, released its latest report on US moves and found that Florida is the most popular state for relocating homebuyers.
People who move to a completely different area often do so for an immutable reason, such as a new job or to care for a family member.
According to the report, Phoenix and Miami are the most popular destinations for users from Redfin.com looking for homes in another part of the country, followed by Las Vegas, Tampa, FL and Orlando, FL.
Five of the top 10 destinations are in Florida, and almost all of them are in the Sun Belt. Popularity is determined by net influx, a measure of how many more Redfin.com users sought to move to an area than leave.
Redfin notes 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 workplaces: For example, Seattle (median sales price: $770,000) is the most common origin for homebuyers moving to Phoenix ($439,000) and Los Angeles ($830,000) is the most common origin for those moving to Las Vegas ($400,000).”
Florida soared in popularity as remote work trend took hold fueled by the pandemic, with many Americans moving there in search of relatively affordable housing and sunshine.
The Sunshine 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 Redfin.com users moving to Florida metropolitan areas has decreased 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. Net inflow to Tampa was about 9,000 a year ago, up from about 6,000 now.
Top 10 areas buyers are moving to:
Metropolitan area: (1) Phoenix, Arizona
Home seekers in 2023: 7,500
Home seekers in 2022: 9,100
Metropolitan area: (2) Miami, Florida
Home seekers in 2023: 7,500
Home seekers in 2022: 13,000
Metropolitan area: (3) Las Vegas, Nevada
Home seekers in 2023: 6,400
Home seekers in 2022: 7,100
Metropolitan area: (4) Tampa, Florida
Home seekers in 2023: 5,800
Home seekers in 2022: 9,000
Metropolitan area: (5) Orlando, Florida
Home seekers in 2023: 5,300
Home seekers in 2022: 1,900
Metropolitan area: (6) North Harbor-Sarasota, FL
Home seekers in 2023: 5,000
Home seekers in 2022: 6,300
Metropolitan area: (7) Cape Coral, Florida
Home seekers in 2023: 4,700
Home seekers in 2022: 6,800
Metropolitan area: (8) Dallas, TX
Home seekers in 2023: 4,700
Home seekers in 2022: 6,400
Metropolitan area: (9) Sacramento, Calif.
Home seekers in 2023: 4,600
Home seekers in 2022: 8,800
Metropolitan area: (10) Houston, TX
Home seekers in 2023: 4,000
Home seekers in 2022: 5,300
For more details on the report, go here.
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