Top 10 cities facing exodus of homebuyers

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(NewsNation) — A new report from Redfin showed a record number of potential homebuyers are trying to relocate to more affordable cities. This trend became popular during the height of the pandemic, when many cities were on lockdown and downtowns were empty. People started to move out to rural areas, which had less restrictive ordinances in place.

According to Redfin, here are the 10 cities people are moving from:

  1. San Francisco, CA
  2. Los Angeles, CA
  3. New York, NY
  4. Washington, D.C.
  5. Seattle, WA
  6. Boston, MA
  7. Detroit, MI
  8. Denver, CO
  9. Chicago, IL
  10. Minneapolis, MN

So, where are people headed now?

The top 10 cities people are moving to:

  1. Miami, FL
  2. Tampa, FL
  3. Phoenix, AZ
  4. Sacramento, CA
  5. Las Vegas, NV
  6. Cape Coral, FL
  7. San Diego, CA
  8. North Port, FL
  9. San Antonio, TX
  10. Dallas, TX

“I think people have obviously been facing high prices in cities for a long time,” NewsNation business contributor Lydia Moynihan said. “Of course, that’s exacerbated now with mortgage rates going up. And people are leaving these major metropolitan areas, going increasingly to Florida, to Texas, to states where you can just afford a more, you know, livable state.”

Moynihan also believed that since the pandemic, more people have been able to work remotely, which allows them more flexibility on where they are able to live.

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