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Las Vegas and Florida draw the most relocating house hunters
Redfin says Las Vegas homebuyers are moving in from Los Angeles, while Los Angeles, New York and Seattle are the biggest net outflow origins.
Las Vegas topped a Redfin ranking of U.S. metro areas that attracted the most house hunters looking to move in the second quarter, with Florida metros North Port, Orlando and Miami following in the top spots.
Redfin measured destinations by net inflow, the number of Redfin.com house hunters looking to move in minus those looking to move out, based on users who viewed at least 20 for-sale homes in an origin to destination pair in the relevant month.
The analysis also pointed to affordability as a key driver of Sun Belt migration, citing a typical Las Vegas home price of $447,000 versus $922,000 in Los Angeles, the most common origin for moves into Las Vegas.
On the outflow side, Los Angeles, New York and Seattle were losing house hunters faster than any other metros, and Redfin highlighted that New Yorkers are most commonly looking to go to Philadelphia, where a typical home costs $309,000 compared with $832,000 in New York.