10 top cities for out-of-town house hunters
May 24, 2017 2:10 PM
Nearly one in five online home shoppers focused their searches on properties outside their current metro area during the first quarter of 2017.
Even for consumers with high-paying jobs, there's not enough "budget-friendly housing" to keep them anchored to their current cities, according to Redfin Chief Economist Nela Richardson. "For many, the only path to homeownership is to pack up and move out."
Here's a look at the top cities where out-of-town house hunters are looking to buy. Mortgage lenders can capitalize on these trends with targeted marketing and specialized customer service to cater to these consumers.
The data, from online real estate brokerage Redfin, compares the number of out-of-towners searching in a metro area minus local shoppers searching in other cities.
Even for consumers with high-paying jobs, there's not enough "budget-friendly housing" to keep them anchored to their current cities, according to Redfin Chief Economist Nela Richardson. "For many, the only path to homeownership is to pack up and move out."
Here's a look at the top cities where out-of-town house hunters are looking to buy. Mortgage lenders can capitalize on these trends with targeted marketing and specialized customer service to cater to these consumers.
The data, from online real estate brokerage Redfin, compares the number of out-of-towners searching in a metro area minus local shoppers searching in other cities.
SeanPavonePhoto - Fotolia
No. 10: San Diego, Calif.
Percentage of out-of-town shoppers: 21.8%
Median sales price: $530,000
Where most shoppers currently live: Los Angeles, Calif.
Median sales price: $530,000
Where most shoppers currently live: Los Angeles, Calif.
GalinaSt - Fotolia
No. 9: Austin, Texas
Percentage of out-of-town shoppers: 22.2%
Median sales price: $360,000
Where most shoppers currently live: San Francisco, Calif.
Median sales price: $360,000
Where most shoppers currently live: San Francisco, Calif.
Worachat Sodsri/worachatsodsri - Fotolia
No. 8: Miami, Fla.
Percentage of out-of-town shoppers: 23.1%
Median sales price: $279,000
Where most shoppers currently live: New York, N.Y.
Median sales price: $279,000
Where most shoppers currently live: New York, N.Y.
Jon Perry/Jonathan Perry - Fotolia
No. 7: Tampa, Fla.
Percentage of out-of-town shoppers: 52.4%
Median sales price: $204,000
Where most shoppers currently live: Washington, D.C.
Median sales price: $204,000
Where most shoppers currently live: Washington, D.C.
David Gn/David Gn - Fotolia
No. 6: Portland, Ore.
Percentage of out-of-town shoppers: 15.1%
Median sales price: $414,000
Where most shoppers currently live: San Francisco, Calif.
Median sales price: $414,000
Where most shoppers currently live: San Francisco, Calif.
ALEX Grichenko/digidreamgrafix - Fotolia
No. 5: Atlanta, Ga.
Percentage of out-of-town shoppers: 20.0%
Median sales price: $269,000
Where most shoppers currently live: Washington, D.C.
Median sales price: $269,000
Where most shoppers currently live: Washington, D.C.
wisanuboonrawd - Fotolia
No. 4: Dallas, Texas
Percentage of out-of-town shoppers: 22.5%
Median sales price: $310,000
Where most shoppers currently live: Los Angeles, Calif.
Median sales price: $310,000
Where most shoppers currently live: Los Angeles, Calif.
AR Pictures - Fotolia
No. 3: Las Vegas, Nev.
Percentage of out-of-town shoppers: 35.9%
Median sales price: $230,000
Where most shoppers currently live: Los Angeles, Calif.
Median sales price: $230,000
Where most shoppers currently live: Los Angeles, Calif.
Andy - Fotolia
No. 2: Phoenix, Ariz.
Percentage of out-of-town shoppers: 27.9%
Median sales price: $414,000
Where most shoppers currently live: Los Angeles, Calif.
Median sales price: $414,000
Where most shoppers currently live: Los Angeles, Calif.
Dave Newman - Fotolia
No. 1: Sacramento, Calif.
Percentage of out-of-town shoppers: 35.4%
Median sales price: $285,000
Where most shoppers currently live: San Francisco, Calif.
Median sales price: $285,000
Where most shoppers currently live: San Francisco, Calif.
