DENVER — Redfin, a home search tool, reported their users at the end of 2022 hit a record high of 25% searching for homes in a different metro area than where they currently live. The analysis published by Redfin cited high housing prices that caused the desire to relocate.
Denver is in the top ten list of cities that homebuyers are looking to leave, according to the report. It ranks at number seven on the list.
The data collected by Redfin said homebuyers are relocating at an "unprecedented rate" due to
elevated mortgage rates, high home prices, and economic uncertainty.
The list may come as a shock to many people familiar with Denver, but Matt Metcalf who has been in the real estate world since 1995, isn't surprised by the list.
“Statistically, it's fairly insignificant," Metcalf said about the study. "We're going to have some of those migratory changes over the years. But Denver still has a mass appeal, and I think we still have some pretty pent up buyer demand and people who really want to call this home long-term.”
Metcalf said he still helps people from out of state buy homes in Denver, as the housing market stabilizes in the city.
On the other end of the list Sacramento, California has the most homebuyers looking to live there in the country.