Here Are The Most Popular Cities For Homebuyers In 2022—And The Places People Can’t Wait To Leave
Source: Realtor.com, Clare Trapasso
Photo: Getty Images
The COVID-19 pandemic shook up just about everything—especially where many people live. It caused a mass real estate migration unlike any in recent memory.
Lots of folks traded the cities for suburbs—more space! fewer people!—while others relocated to new, often cheaper, parts of the country. And with the popularity of remote work that allows buyers to live just about anywhere and the growing frustration with record-high home prices, the real estate reshuffle isn’t slowing down anytime soon.
In the first quarter of the year, more than half, 59.7%, of all of the views on the home listings on Realtor.com® came from shoppers based in other metros, according to recent Realtor.com research. That was a 4.6% bump over the same time last year.
So where is everyone going?
Our economics team analyzed the search traffic on Realtor.com to figure out the areas where people wanted to move to—and where they most wanted to leave. We scrutinized the data to determine the nation’s most sought-after areas from buyers who are looking at homes in a different metro area from where they live. On the other end of the scale, the team also found the metro areas where the highest percentage of locals were looking for homes someplace else.
“The pandemic led many Americans to revisit priorities, preferences, and timelines,” says George Ratiu, manager of economic research for Realtor.com. “Worries over health, financial pressures, lifestyle, and well-being were channeled into finding a home in a location which offered ample access to the outdoors, better quality of life, and increasingly important, affordable housing.”
As for trends, we found that the ever-elusive quest for affordability is still driving most preferences. Vacation and retirement destinations are especially popular with those browsing real estate listings from other areas. Some shoppers were looking to relocate, especially those who can work remotely. Others were hoping to purchase a second home, and then there were those who just wanted to dream.
Meanwhile, folks in the more expensive cities, colder parts of the country, and college and military towns seem to be looking for exit strategies. Folks in the chilly and pricey Northeast were the most likely to look at homes in other parts of the country. About 37.2% of them viewed properties in different regions. About 26.4% of folks from the Midwest, 25% of those in the West, and just 11.3% of people in the South also searched Realtor.com for residences located elsewhere.
To track the moves, the Realtor.com analysis covered the 300 largest metropolitan areas in the first quarter of 2022. (A metro area encompasses the main city and surrounding towns and smaller urban areas.) We limited the list to just one metro per state to ensure geographic diversity.
OK, let’s start with the most popular list—a tour of the most desired destinations for homebuyers right now!
1. Punta Gorda, FL
Percentage of Realtor.com home listing views from outside of the metro: 90.12%
Median home list price: $430,000*
2. East Stroudsburg PA
Percentage of listing views from outside of the metro: 89.1%
Median home list price: $322,000
3. Kahului, HI
Percentage of listing views from outside of the metro: 88.3%
Median home list price: $1,197,500
4. Rocky Mount, NC
Percentage of listing views from outside of the metro: 88.3%
Median home list price: $232,500
5. Prescott, AZ
Percentage of listing views from outside of the metro: 87.9%
Median home list price: $622,300
6. Claremont, NH
Percentage of listing views from outside of the metro: 87.5%
Median home list price: $400,000
7. Hilton Head Island, SC
Percentage of listing views from outside of the metro: 85.9%
Median home list price: $522,000
8. Santa Fe, NM
Percentage of listing views from outside of the metro: 85.9%
Median home list price: $879,000
9. Decatur, AL
Percentage of listing views from outside of the metro: 84.9%
Median home list price: $268,000
10. Barnstable Town (Cape Cod), MA
Percentage of listing views from outside of the metro: 84.7%
Median home list price: $849,450
https://www.realtor.com/news/trends/where-people-are-moving-and-where-theyre-leaving