Across the nation, finding an affordable home seems more out of reach than ever before.
Time To Relocate
With rising interest rates, high inflation, and other recession indicators, many are choosing to leave their current cities to relocate, according to a recent Redfin report.
$1.5 Million Average
With the average home in San Francisco and San Jose over $1.5 million and mortgage rates over 5%, a recipe for an extremely high payment. Many are simply saying no to this reality. Here are the top cities homebuyers are flowing out of in droves.
San Francisco
Net outflow Q2 2022: 48,718
San Francisco Top Destinations
Sacramento, CA and Seattle, WA
Los Angeles
Net outflow Q2 2022: 33,712
Los Angeles Top Destinations
San Diego, CA and Phoenix, AZ
New York City
Net outflow Q2 2022: 35,165
New York City Top Destination
Philadelphia, PA
Washington, DC
Net outflow Q2 2022: 24,492
Washington, DC Top Destination
Salisbury, MD
Seattle
Net outflow Q2 2022: 18,594
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Seattle Top Destination
Phoenix, AZ
Boston
Net outflow Q2 2022: 12,493
Boston Top Destination
Portland, ME
Detroit
Net outflow Q2 2022: 7334
Detroit Top Destination
Cleveland, OH
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Denver
Net outflow Q2 2022: 5635
Denver Top Destination
Chicago, IL
Chicago, IL
Net outflow Q2 2022: 4769
Chicago Top Destination
Cape Coral, FL
Minneapolis
Net outflow Q2 2022: 2795
Minneapolis Top Destination
Chicago, IL
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