Buyers still put location, location, location at the top of their wish lists. But these days high housing costs are influencing what a "good" location means. Redfin has found that moves out of town remain popular due to the search for where affordability is greatest.
Evidence for the trend is seen in the numbers with searches for out-of-town locations dropping 4.2% in the first quarter from a year ago, but far smaller than the 15.6% drop for searches closer to home.
But another Redfin stat suggests that the pandemic-era migration trend may be starting to cool. It noted that these are the biggest drops in the company's records, which date back through 2019.
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