Boston passed the less expensive inland metro areas that typically dominate the list of top migration destinations, but it’s still an affordable option for some. Nationally, the share of Redfin home searchers looking outside their home metro hit a new all-time record of 26 percent.
Twenty-six percent of Redfin.com home searchers looked to move to another metro area in the third quarter of 2019, compared to 25 percent during the same period last year. This is a new all-time high for the national share of home-searchers looking to relocate. The latest migration analysis is based on a sample of more than 1 million Redfin.com users who searched for homes across 87 metro areas from July through September.
Phoenix fell to number three in the rankings in the third quarter after two quarters at the top of our list of metro areas with the highest net inflow of Redfin users. Boston is the new number one, with Sacramento at number two. A net inflow means more people are looking to move in than leave, while a net outflow means there are more people looking to leave than people looking to move in.
Seventeen percent of homebuyers searching in the Boston metro area were looking from other metro areas in the third quarter, up from both a year earlier (12.0%) and the second quarter (14.1%). New York continues to be the top origin city for people looking to move to Boston, and Boston is the top destination for people looking to leave New York.
“There is a sense here in New York that the sky has been falling for our housing market all year,” said Redfin New York market manager Nick Boniakowski. “People fleeing NYC aren’t looking for a rural life, they are fleeing the high costs. Boston presents a slightly more accessible cost of living, while still providing urban quality of life that many desire today. Boston is appealing because it’s close and there are similar employment opportunities.”
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