Homebuyer’s interest in relocating dipped slightly

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Real Estate

hat’s down from a peak of 32% at the start of the year, but higher than the 26% level we saw early in the pandemic. Worker turnover is one reason Americans continue to move at an elevated rate.

Nationwide, 30.1% of Redfin.com users looked to move to a different metropolitan area in July and August, down slightly from 31.1% in the second quarter but up from 28.7% during the same two-month period in 2020.

Last month, we published a preliminary look at third-quarter migration patterns, which showed that 29.8% of Redfin.com home searchers were looking to move to another metro in July. This report includes data from both July and August.

The latest migration analysis is based on a sample of about 2.7 million Redfin.com users who searched for homes across 120 metro areas in July and August, excluding searches unlikely to precede an actual relocation or home purchase. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a particular metro area, and homes in that area must have made up at least 80% of the user’s searches.

Click here for more information: https://www.redfin.com/news/july-august-2021-housing-migration-trends/