Redfin says that a quarter of home searches on their website were looking to move to another metro area, which is up 2% from one year ago. The results, part of their Q1 2019 Migration Report, also reveal that Phoenix took number one spot on the list with an inflow hit of 7,949—the highest net inflow on record for any metro area to date since Redfin began reporting net migration data back in early 2017.
“People are feeling more confident about the economy and now feel financially secure enough to make a cross-country move to a metro where their money will go further,” said Redfin chief economist Daryl Fairweather. “Homeownership may be out of reach for current residents of San Francisco or New York, but there are plenty of affordable homes and lower taxes in places like Phoenix, Atlanta and Austin. As more workers move to these places, there is a chicken and egg phenomenon where more companies open offices, which attracts even more workers.”