Freddie Mac presented his latest report on the top metropolitan areas homebuyers move to in the United States, where Riverside-San Bernardino-Ontario, CA, top the list.
“The pace of national migration of homebuyers leaving their current metropolitan area has decreased by 18% in the last 12 monthssaid Kristine Yao, Freddie Mac’s director of macroeconomics and housing economics. “But homebuyers continue to move out of high-cost areas to larger, more affordable metropolitan areas.”
According to the real estate company, in general, the number of homebuyers that migrate, in a continuous period of 12 months, more than tripled between March 2020 and March 2022. And while the pace of migration has slowed over the past 12 months, net migration remains high compared to the period ending March 2021.
According to the report, Lakeland-Winter Haven, Fla., experienced additional net migration growth of 6%, moving up seven positions to third place. Interestingly, the 12-month total net migration from March 2023 to these popular destinations remained higher than between April 2020 and March 2021, except in two areas: Riverside-San Bernardino-Ontario, California, and North Port -Sarasota-Bradenton, Florida.
Metro areas with the largest migration gains:
Metropolitan area: (1) Riverside-San Bernardino-Ontario, CA
12-month net migration: 7,300
% change vs. April 2021-March 2022: -27%
Previous position: 1
Metropolitan area: (2) Houston-The Woodlands-Sugar Land, TX
12-month net migration: 3,800
% change vs. April 2021-March 2022: -5%
Previous position: 2
Metropolitan area: (3) Lakeland-Winter Haven, Florida
12-month net migration: 2,900
% change vs. April 2021-March 2022: 6%
Previous position: 10
Metropolitan area: (4) Port of St. Lucia, Florida
12-month net migration: 2,800
% change vs. April 2021-March 2022: -15%
Previous position: 6
Metropolitan area: (5) North Harbor-Sarasota-Bradenton, FL
12-month net migration: 2,500
% change vs. April 2021-March 2022: -27%
Previous position: 5
Metropolitan area: (6) Myrtle Beach-Conway-North Myrtle Beach, SC-NC
12-month net migration: 2,400
% change vs. April 2021-March 2022: -24%
Previous position: 7
Metropolitan area: (7) Deltona-Daytona Beach-Ormond Beach, FL
12-month net migration: 2,400
% change vs. April 2021-March 2022: -17%
Previous position: 9
Metropolitan area: (8) Tampa-St. Petersburg-Clearwater, FL
12-month net migration: 2,200
% change vs. April 2021-March 2022: -43%
Previous position: 3
Metropolitan area: (9) Jacksonville, Florida
12-month net migration: 2,100
% change vs. April 2021-March 2022: -5%
Previous position: 13
Metropolitan area: (10) Dallas-Fort Worth-Arlington, TX
12-month net migration: 1,800
% change vs. April 2021-March 2022: -49%
Previous position: 4
For the top 10 metropolitan areas in the country with the highest negative net migration in the last 12 months, net migration losses were reduced by 17% compared to the previous 12-month period.
Metropolitan areas with the highest migratory losses:
Metropolitan area: (1) New York-Newark-Jersey City, NY-NJ-PA
12-month net migration: 24,100
% change vs. April 2021-March 2022: -16%
Previous position: 1
Metropolitan area: (2) Los Angeles-Long Beach-Anaheim, CA
12-month net migration: 21,200
% change vs. April 2021-March 2022: -26%
Previous position: 2
Metropolitan area: (3) Washington-Arlington-Alexandria, DC-VA-MD-WV
12-month net migration: 9,900
% change vs. April 2021-March 2022: -6%
Previous position: 4
Metropolitan area: (4) San Francisco-Oakland-Berkeley, CA
12-month net migration: 9,500
% change vs. April 2021-March 2022: -34%
Previous position: 3
Metropolitan area: (5) Boston-Cambridge-Newton, MA-NH
12-month net migration: 7,200
% change vs. April 2021-March 2022: -13%
Previous position: 6
Metropolitan area: (6) Seattle-Tacoma-Bellevue, WA
12-month net migration: 6,300
% change vs. April 2021-March 2022: -18%
Previous position: 7
Metropolitan area: (7) San Jose-Sunnyvale-Santa Clara, CA
12-month net migration: 5,900
% change vs. April 2021-March 2022: -36%
Previous position: 5
Metropolitan area: (8) Miami-Fort Lauderdale-Pompano Beach, FL
12-month net migration: 5,300
% change vs. April 2021-March 2022: 52%
Previous position: 11
Metropolitan area: (9) San Diego-Chula Vista-Carlsbad, CA
12-month net migration: 4,100
% change vs. April 2021-March 2022: -18%
Previous position: 9
Metropolitan area: (10) Chicago-Naperville-Elgin, IL-IN-WI
12-month net migration: 3,700
% change vs. April 2021-March 2022: -33%
Previous position: 8
For more data and details on the methodology, enter here.
Keep reading:
· New blow to housing in the US, mortgage rates rise again
· How far will it go? The price of housing in the US does not stop increasing
· 11 cities where rent has fallen the most in the US.
2023-07-28 15:13:35
#Places #Homebuyers #Moving #Journal
