These Are the Most (and Least) Coveted Cities to Buy Homes Despite High Interest Rates, According to a New Report Florida and Las Vegas are still experiencing a real estate heat wave.
By Erin Davis
More than a quarter of people looking to buy homes are looking at destinations outside their current city, according to three months of data from Redfin.com analyzed by CNBC. It's the highest percentage (26%) since Redfin started tracking the data in 2017.
Where are people looking to move? The No. 1 aspirational destination was Las Vegas, followed by several cities in Florida.
The data is based on 100 metro areas and their "net inflow," a number tallied by looking at how many people are searching to leave a city vs. how many are looking to move in.
Related: San Francisco Launches $6 Million Ad-Campaign to Lure Tourists Amid Retail Exodus and Drug Crisis
According to property searches on Redfin's website, the top five cities with the highest "net inflow" were:
- Las Vegas: 5,700
- Phoenix: 5,300
- Tampa, Florida: 5,000
- Orlando, Florida: 4,900
- Sacramento, California: 4,800
As for where people are leaving, San Francisco and New York City led the list of the largest "net outflow" searches, which is no surprise based on data from the last few years. But some smaller locations such as Hartford and Denver also made the top 10.
- San Francisco: 28,100
- New York City: 24,200
- Los Angeles: 20,900
- Washington, D.C.: 15,700
- Chicago: 4,900
For the full top 10 list, visit CNBC.
