PHOENIX, Ariz. — People who get a lot of rain seem to appreciate a dry climate.
A recent Redfin study tracked more than 2 million people searching for new homes between April 2023 and June 2023. Those who looked at more than 10 homes, including one outside their city, were considered homebuyers who could relocate. The cities they searched in counted proportionally to the number of times they searched.
On the list of most popular cities for net newcomers (the number of people looking to come minus the number of people looking to leave), Phoenix showed wide popularity, finishing second only to Las Vegas where people from pricier West and East Coast cities are searching for homes.
All top 10 cities are in places with warm climates.
More homebuyers are leaving San Francisco, New York and Los Angeles than any other U.S. metro area, Redfin reports.
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What are home prices like in Arizona, California, Texas and Illinois’ biggest cities?
Despite a big jump in home prices during the past decade, metro Phoenix is still a deal for major metro U.S. areas. The median home price in the Seattle area was $793,000 at the end of this year’s second quarter, according to the National Association of Realtors. Metro Phoenix’s second-quarter median was $464,000.
San Jose’s median home price is almost four times as much as Phoenix’s at $1.8 million. A typical home in San Francisco is $1.335 million. San Diego’s median is $1.06 million, and the Los Angeles median is $789,000.
The median home price in Dallas is $389,000 and $348,000 in Houston. In Chicago, the median price is $363,000. So jobs, weather or lifestyle are likely drawing those residents and homebuyers to Arizona.
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Florida’s population boom in recent years has made it the fastest-growing state for the first time since 1957, according to the U.S. Census. On Redfin’s list, Orlando was ranked No. 4 after Tampa. North Port-Sarasota, Cape Coral and Miami also made the top 10.
Top states exporting new residents to the Phoenix area
Almost half of the 5,300 searchers on Redfin checking out Phoenix area houses during June and July were from Seattle, according to the real estate brokerage, but Washington state overall doesn’t top the relocation list, according to the Maricopa Association of Governments.
About 2% of homebuyers using Redfin searched to move to metro Phoenix from other U.S. metro areas, according to the recent survey. Among home searches done by people living in the Phoenix area, 29% involved potential homebuyers who wanted to move away. Dallas, Nashville and Miami were the top cities for people looking to leave Arizona’s Valley of the Sun.
California is the top state for new residents moving to the Phoenix area, according to the Maricopa Association of Governments. Texas is No. 2 and Illinois No. 3, and the state of Washington is No. 4 on the Maricopa Association of Governments list.
Maricopa County drew more new residents than any other county across the country last year. That boom helped the region’s housing market slow less than other areas despite higher interest rates keeping more homebuyers on the sideline.
Reach the reporter at catherine.reagor@arizonarepublic.com or 602-444-8040. Follow her on X, formerly Twitter: @CatherineReagor.
