The housing market is experiencing changes, with Sacramento becoming a popular choice. According to a recent report by Redfin, California’s capital was the top choice for homebuyers looking to relocate between October 2023 and December 2023.
Redfin’s migration analysis was created based on the search results of approximately two million Redfin.com users who viewed homes in over 100 metro areas throughout the United States. The calculation for “inbound” data involved tallying the number of individuals searching for homes to move there and subtracting those searching to leave.
Sacramento stood out with a score of 5,400 compared to other competitive metro areas in the top five. Las Vegas, along with two Florida metros (Cape Coral and Sarasota), came in second place with a score of 4,100, with Orlando following at 3,600.
The report also provided information on the “outbound” metros, which are areas people are looking to leave. Similarly, the total was calculated by subtracting the number of searchers interested in moving there from the number of people hoping to leave. Los Angeles had a net outflow score of 26,900, making it the top performer in this case. San Francisco had 25,900, New York had 24,900, Seattle had 16,700, and Washington, DC had 13,000.
Also Read: This Small U.S. City Becomes the Best Place to Retire With No Savings
Out of all the states, California was the top choice for many people thinking about moving away. Over 46,000 California residents looked for cities outside the state. At the same time, California home prices rose by 7.4 percent compared to the previous year in December, while the number of homes sold decreased by 6.1 percent. Currently, the combination of limited housing options and increased interest rates is posing a challenge for those looking to purchase a home. For the best chance at becoming a homeowner, explore expert advice on how to improve your candidacy.
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