The Share of Homebuyers Looking to Relocate Is Near Pandemic Peak

Source: Redfin News— 

Nationwide, 31.2% of Redfin.com users looked to move to a different metro in the fourth quarter of 2021, near the record high of 31.5% set in the first quarter. The share is up significantly from pre-pandemic levels, with 26.3% of Redfin.com users looking to relocate in the fourth quarter of 2019.

Homebuyer interest in relocating to a new part of the country rose with the onset of the pandemic and has remained elevated for nearly two years. That’s partly due to low mortgage rates and partly the surge in remote work that’s allowing Americans to choose where they live based on things like affordability and weather rather than proximity to an office.