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Phoenix leads nation with biggest net inflow in 2020

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Phoenix leads nation with biggest net inflow in 2020

February 8, 2021
in Homes for Sale
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Phoenix leads nation with biggest net inflow in 2020
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Nationwide, 27.8% of Redfin.com users looked to move to another metro area in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s up from 25.5% in 2019, a 9% year-over-year increase. The increase is driven by people leaving expensive coastal areas for relatively affordable places. And the city with the biggest net inflow of new residents in 2020 was Phoenix.

The uptick in migration is exacerbating the severe shortage of homes for sale in 2021. In December, supply was down a record 34% year over year nationwide. The supply of homes for sale is down by double digits from last year in all 10 of the nation’s most popular migration destinations, including Phoenix, Austin, Las Vegas and a handful of southeastern metros. Meanwhile, the only areas supply is up are the places people are leaving: the San…

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