Summer is the most popular time of the year for people to move to different cities. This could be because this is the time of year where people relocate to a new school, a new job or just get the urge to experience a new city.
To determine the ranking of cities, Realtor.com looked at cross-metro search traffic on their website along with cross-metro traffic on moving.com and Census Bureau Migration Data from 2009-2013.
Three cities from Florida made the list thanks to the state’s strong job growth and low unemployment rate, however Tampa was at the top. Realtor.com listed the median home price in Tampa at $230,000, well below other big-name metros that made the cut.
Behind Tampa, the top five cities consisted of Jacksonville, Florida, Charlotte, North Carolina, San Antonio, Texas and Austin, Texas. All of these cities share two things in common: affordable housing prices and a strong job outlook for residents.
However, that’s not to say that cities on this list have it made. For example, Realtor.com raises the issue of the decline of foreign buyers in South Florida, which is causing a slowdown in new home sales. Luckily, when the market slows down, that’s good news for buyers who are looking for better prices and more choices.
Now that you know where people are moving to, are you curious about where they’re coming from? Realtor.com included a list of the top cities that are losing the most residents, too. On top of the list? New York City, followed by Chicago, Illinois, Detroit, Michigan, San Jose, California and Los Angeles, California.
Realtor.com states that the reason for this shift is the high home prices within large metro areas like New York, Chicago and Los Angeles. Combined with the high cost of living and taxes, people are beginning to find these metropolitan cities less and less attractive.
According to this Realtor.com report, New Yorkers are most likely to move to Florida, while residents of San Francisco stay within California, but move far away from the pricey coastal areas. Where do residents of Los Angeles go? The city of sin, Las Vegas!
Millennials are leading the charge when it comes to moving to different cities. This generation is motivated to move because of the potential for job opportunities, excitement and new experiences outside of their comfort zone. Realtor.com found that this list would look a little different if it were to focus solely on Millennials. The top city would be San Antonio, Texas, followed by four cities within Florida: Jacksonville, Tampa, Miami and Orlando. Considering that everyone thinks only senior citizens move to Florida, it’s interesting to see that the majority of Millennial movers are relocating to the Sunshine State!
If you want to be one of the many people who move to the Tampa Bay area, contact a real estate agent from Coast 2 Coast Realty!