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7 mentions found


☆ People are fleeing California. Here's where they're plotting to move to.
  + stars: | 2023-12-04 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +3 min
San Francisco, Los Angeles, and San Diego residents are looking to move to Las Vegas and Seattle, Redfin found. Some parts of California are losing residents due to the high cost of living, politics, and crime. Bob Giramma, a 63-year-old business owner, moved away from San Diego and landed in Murfreesboro, Tennessee , a town 30 miles southeast of Nashville. Now residents of some of the most populous cities in California — Los Angeles, San Diego, and San Francisco — are eyeing other cities, according to home-listings site Redfin, which tracks where its users are house-hunting. Allan BaxterPeople looking to move out of San Francisco, Los Angeles, and San Diego, Redfin additionally found, are most often searching for homes in Las Vegas and Seattle.
Persons: Redfin, —, Bob Giramma, Giramma, Francisco —, Allan Baxter, relocators, Andrew Arevalo, he's, Arevalo Organizations: Service, Census Bureau, Business, California —, Las, Los, Denver Locations: California, San Francisco , Los Angeles, San Diego, Las Vegas, Seattle, Murfreesboro , Tennessee, Nashville, Tennessee, Texas, Arizona, Florida, Oregon, Colorado, California — Los Angeles, Francisco , Los Angeles, —, Vegas , Nevada, San, Los Angeles, Washington, Nevada, Millennials, Las, Vegas
☆ The sluggish housing market is weighing on Redfin's stock as home sales 'near rock bottom'
  + stars: | 2023-08-04 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +2 min
Redfin stock plunged as much as 24% Friday following a downbeat earnings report. "Sales volume is near rock bottom," CEO Glenn Kelman told analysts on Thursday. "Sales volume is near rock bottom," CEO Glenn Kelman told analysts on Thursday. For the third quarter, Redfin sees revenue dropping about 13% to $265 million-$279 million and losses narrowing to $21 million-$30 million from $90 million. Limited home inventory and elevated mortgage rates have kept house hunters sidelined and current homeowners reluctant to move, with many holding on to lower mortgage rates secured in prior years.
Persons: Glenn Kelman, Redfin, Redfin.com, Kelman Organizations: Service Locations: Wall, Silicon, New York, Seattle
☆ 1 in 4 U.S. homebuyers want to move to a different city—here's the No. 1 place they're looking
  + stars: | 2023-07-30 | by ( Mike Winters | ) www.cnbc.com   time to read: +3 min
Homeownership costs seem to be driving the trend, as the majority of homebuyers are from cities with some of the highest home prices in the country, such as New York or Los Angeles. Net inflow is the number of people looking to move into a city minus the number of people looking to leave. This makes sense, as those are some of the cities where the most homebuyers seemingly want to leave. For instance, most out-of-town buyers looking for properties in Las Vegas are from Los Angeles. The median cost of a home in Las Vegas is $412,500 as of June, nearly half the $975,000 median cost for homes in Los Angeles, according to Redfin's data.
Persons: Redfin, they've Organizations: Las Vegas, Port Locations: South, New York, Los Angeles, Las Vegas, Tampa , Florida, Orlando, Florida, Sacramento , California, Sarasota , Florida, Coral , Florida, Dallas, Miami, Houston, Seattle , New York, Chicago, San Francisco, York City, Angeles, Washington, Boston, Seattle, Hartford , Connecticut, Denver, Detroit
☆ The top 10 cities that offer homebuyers the most bang for their buck—none of them are in Florida
  + stars: | 2022-12-13 | by ( Celia Fernandez | ) www.cnbc.com   time to read: +1 min
Hartford, Connecticut is No. The housing market is in flux right now — thanks to high mortgage rates, and persistent inflation — and homebuyers continue to be priced out of bigger cities. Amid rising costs in 2023, housing markets in affordable, mid-sized manufacturing hubs will continue having an influx of homebuyers. As a result, Connecticut has the highest number of insurance professionals per capita in the U.S., according to Connecticut Insurance Department. When it comes to the housing market, Hartford, CT, is somewhat competitive, according to Redfin.com.
☆ Nearly 25% of U.S. homebuyers want to move — this state is the top destination
  + stars: | 2022-12-10 | by ( Mike Winters | ) www.cnbc.com   time to read: +2 min
Nearly 25% of the property search queries on online real estate brokerage Redfin.com are for cities where the person doesn't live, according to the company's most recent data. Out of 100 metro areas examined during the three months ended in October, the following 10 cities had the highest net inflow of property searches on Redfin's website. Net inflow is the number of people looking to move into a city minus the number of people looking to leave. To measure the share of homebuyers looking to relocate from one metro to another, a person browsing Redfin for properties in another city counts as a migrant. The net inflow rankings were compiled based on the total number of migrants.
☆ Homebuyers will flock to the Midwest in 2023 because prices will still be too expensive in coastal states, a Zillow economist predicts
  + stars: | 2022-12-06 | by ( Robert Davis | ) www.businessinsider.com   time to read: +6 min
The Midwest could be 2023's hottest housing market because it's affordable, one Zillow economist said. Buyers may look at cities like Chicago, Indianapolis, and Cleveland, where prices have remained stable. Homebuyers in expensive markets like Denver, New York City, and San Francisco were routinely searching for homes in less expensive midwestern markets, the report added. The typical home in Milwaukee is $181,000 while in St. Louis, buyers should expect to spend $176,500, Zillow suggests. But waiting out this market may not be the best approach for buyers ready and able to buy now."
☆ Nearly 25% of homebuyers want to escape big cities like Los Angeles and New York — here are the top 10 destinations
  + stars: | 2022-11-05 | by ( Mike Winters | ) www.cnbc.com   time to read: +2 min
With mortgage costs rising, more homebuyers from large urban areas like New York City and San Francisco are seeking to relocate to relatively affordable cities like Phoenix, Miami or Las Vegas, a new analysis finds. Out of 100 metro areas examined during the third quarter, the following 10 cities had the highest net inflow of property searches on Redfin's website. Net inflow is measured as the number of people looking to move into a metro minus the number of people looking to leave. Tellingly, the highest number of searches for properties in these cities are from people in urban areas that have a relatively high cost of living, like New York City, Chicago and Los Angeles, the study says. Many people are looking to leave Los Angeles for places in the Southwest, like Las Vegas or Phoenix.
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