The housing market is in a state of flux, but people are setting their sights on one place in particular: Sacramento. A recent report by Redfin found that California’s capital was the most searched for destination for homebuyers planning to move between October 2023 and December 2023.

Redfin’s migration analysis was developed from the search results of about two million Redfin.com users who looked at homes in more than 100 metro areas across the United States. The “inbound” data was calculated by adding the number of home searchers looking to relocate there, minus the number of searchers planning to leave. Sacramento’s score was 5,400, making it a standout among the other competitive metro areas rounding out the top five. Las Vegas tied with two Florida metros (Cape Coral and Sarasota) for the second position with a score of 4,100, followed by Orlando at 3,600. 

The same report shared details about the “outbound” metros, or spots where people are trying to move away from. In a similar way, the total was determined by taking the number of people hoping to leave and subtracting the number of searchers interested in moving there. Los Angeles was the “winner” here, with a net outflow score of 26,900. The other high-ranking metros were San Francisco (25,900), New York (24,900), Seattle (16,700), and Washington, DC (13,000). 

The housing market is in a state of flux, but people are setting their sights on one place in particular: Sacramento. A recent report by Redfin found that California’s capital was the most searched for destination for homebuyers planning to move between October 2023 and December 2023.

Redfin’s migration analysis was developed from the search results of about two million Redfin.com users who looked at homes in more than 100 metro areas across the United States. The “inbound” data was calculated by adding the number of home searchers looking to relocate there, minus the number of searchers planning to leave. Sacramento’s score was 5,400, making it a standout among the other competitive metro areas rounding out the top five. Las Vegas tied with two Florida metros (Cape Coral and Sarasota) for the second position with a score of 4,100, followed by Orlando at 3,600. 

The same report shared details about the “outbound” metros, or spots where people are trying to move away from. In a similar way, the total was determined by taking the number of people hoping to leave and subtracting the number of searchers interested in moving there. Los Angeles was the “winner” here, with a net outflow score of 26,900. The other high-ranking metros were San Francisco (25,900), New York (24,900), Seattle (16,700), and Washington, DC (13,000).  

How to Paint a Wall with LimewashAdd richness, depth, and dimension to a room with this limewash wall paint technique.0 seconds of 55 secondsVolume 0% 

Compared to all other states, California was the place where most people considered leaving. More than 46,000 California residents searched for metros outside of the state. This also comes at a time when California home prices increased by 7.4 percent year-over-year in December, and the number of homes sold dropped by 6.1 percent.

The low housing inventory and high interest rates are making it difficult to become a homeowner these days. To help make yourself the best possible candidate for home ownership, check out the top tips and tricks from real estate experts.

This story was originally published on Sunset.com. You can read it here.

Share:
More In Business
Stocks Close Higher as Investors Shake Off Omicron Concerns
Jim Bruderman, Vice Chairman at 1879 Advisors, joins Cheddar News' Closing Bell, where he says investors experienced a 'panic attack' last week with the spread of the Omicron variant and the Fed's tapering plans. As a result, he says we're now seeing stocks climb due to a growing comfort level toward both developments.
Attack Surface Management Startup CyCognito Raises $100 Million
Attack surface management startup CyCognito recently raised $100 million in its latest funding round, valuing the company at $800 million. CyCognito offers cyber security through its attack surface scanner, which uses artificial intelligence to identify weak spots in an organization's network. The new funding comes as companies around the world continue to add new defenses to the growing rise of cyber threats and attacks. CyCognito co-founder and CEO Rob Gurzeev joins Cheddar News' Closing Bell to discuss.
Big Takeaways From Second Annual Square Future of Retail Report
Roshan Jhunja, head of retail at Square, joined Cheddar to talk about the financial services company's second annual Future of Retail report. Square expects the massive shift to e-commerce to continue into 2022 as more consumers get used to the online shopping experience. For Square, soon-to-be renamed Block, which began predominantly as a digital payment platform, Jhunja said the company is also helping sellers with automation amid ongoing labor shortages.
Amid C-Suite Exodus and Brewing Scandals, What Should Facebook Investors Watch For?
Facebook is undergoing more than a name change. The company, now known as Meta, has also seen an exodus of executives this year. While the timing of some of these resignations came before whistleblower allegations, it's undeniable the tech giant is undergoing big changes. Doug Astrop, Managing Partner at Exponential Investment Partners, joins Cheddar News' Closing Bell to discuss Facebook's current state, possible regulatory scrutiny, the impact of Instagram chief Adam Mosseri's Congressional testimony, and more.
U.S. Companies Expected to Increase Salaries in 2022
Businesses are likely to increase salaries budgets in 2022 by 3.9 percent according to a study by The Conference Board. Gad Levanon, head of the Labor Market Institute at The Conference Board, joined Cheddar to provide additional details about the survey's findings. He attributed the anticipated salary hikes to companies looking to retain current employees, a desire to attract a new crop of workers, and surging inflation.
FastAF Closes Series A Funding at $200 Million Valuation
Fast AF, a premiere quick commerce retailer for products and brands just announced the close of its Series A investment round. That round puts the value of the company at $200 million. The company gets items to customers ranging from masks to sneakers and is now launching its own in-house delivery service. Lee Hnetinka, founder and CEO of FastAF joins Cheddar News to discuss the announcement.
Venture Capital Firms Look Beyond Silicon Valley to Invest in Tech StartUps
Steve Case, Revolution Ventures CEO, joined Cheddar to discuss progress venture capitalists have made over 2021 and where investors are looking beyond Silicon Valley. Other locations VC firms are exploring include Los Angeles, Philadelphia, and Chicago among others. "Historically there's been a brain drain in a lot of these cities, people leaving for opportunity elsewhere. Now, people are staying," he said of the emerging tech hubs. "There tends to be a collaborative effort in the community to really support startups to recognize the future of the community."
Load More