The share of homebuyers looking to relocate dipped slightly in October, according to a report by Redfin.
Nationwide, 29.5% of Redfin.com users looked to move to a different metropolitan area in October. That's down from a peak of 31.5% at the beginning of the year, but still higher than the 26% levels seen before the coronavirus pandemic.
"What will likely change are the places people choose to relocate to," Redfin Chief Economist Daryl Fairweather said in prepared remarks. "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.
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