Americans were mobile at a record level for almost two and a half years. The pandemic-driven ability to work from home and low mortgage rates fueled this. However, more companies have since called people back to their offices, and mortgage rates have more than doubled. Home prices have stopped rising, and many fewer people are moving.
[in-text-ad]
For the more modest number of movers still in the market, some cities are much more popular than others. Some, however, probably will lose population. (These seven major American cities have lost half their populations.)
[nativounit]
A new study by real estate company Redfin shows which cities people are most likely to leave and those people are most likely to move to. The net of these two shows likely migration to and from cities. The data comes from Redfin.com searches.
A primary reason people would move to a new metro is price. The Redfin study shows that much of the activity is for people who want to move from expensive West Coast cities to those further inland.
[wallst_email_signup]
The research shows San Francisco is the metro people are most likely to leave. There is a net negative of 28,100 between the number of people who want to leave and those who want to move there. Places these people want to move to are dominated by nearby Sacramento.
[recirclink id=1215636]
These are the cities people are most likely to leave:
| Metro | Net Q2 Outflow | Top Destination |
|---|---|---|
| San Francisco, Calif. | 28,100 | Sacramento, Calif. |
| New York, N.Y. | 24,200 | Miami, Fla. |
| Los Angeles, Calif. | 20,900 | Las Vegas, Nev. |
| Washington, D.C. | 15,700 | Salisbury, Md. |
| Chicago, Ill. | 4,900 | Cape Coral, Fla. |
| Boston, Mass. | 4,400 | Portland, Maine |
| Seattle, Wash. | 3,900 | Phoenix, Ariz. |
| Hartford, Conn. | 3,500 | Boston, Mass. |
| Denver, Colo. | 2,300 | Chicago, Ill. |
| Detroit, Mich. | 2,300 | Grand Rapids, Mich. |
Top Gaining Stocks
Top Losing Stocks