Nearly a quarter of U.S. homebuyers are looking to move, according to a study from Redfin. States in the Sun Belt, such as Florida, are top destinations for the moves.
Fox News contributor Katrina Campins discusses the real estate market heating up in Florida following the devastation from Hurricane Ian and mortgage demand hitting low levels.are looking to move out of their current metro areas, with many people turning their attention to cities in Florida as their next place to call home, according to a new study.
"The U.S. housing market has cooled significantly during the second half of 2022 as high mortgage rates, inflation and a stumbling economy deter would-be homebuyers and sellers. But of the people whostill buying homes, an unprecedented portion are relocating to new metros.
Redfin found that 24.1% of people looking to purchase a home are seeking to move to a different metro area than where they currently live. The study examined more than two million Redfin users who looked at homes for sale online across more than 100 metro areas from August to October of this year. Sacramento came in the top spot for highest net inflow of property searches on Redfin’s website - net inflow is defined as "the number of people looking to move into a metro minus the number of people looking to leave."
The top metro area where Americans moved to between July 2019 and July 2021 was Sarasota, Florida, according to Mayflower.
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