New report shows NY, SF and LA residents scrambling for the exits

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Restless residents of the country’s major coastal cities continue to look for ways out, according to a new study.

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A record number of home buyers want to move to new areas of metropolitan areas, with New York, San Francisco and Los Angeles leading the way, according to the agency. report from the real estate website Redfin.

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The study found that about 24% of all those who bought houses were looking for excavations in different cities in the third quarter of this year – a new all-time high.

“With a looming recession and high household costs, many people cannot afford to buy a house in an expensive area and/or want to save money for an emergency, making moving to a more affordable location an attractive option,” said Redfin. Leading specialist in economic research Chen Zhao.

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The study looked at how many users of a listing site wanted to leave a particular area of ​​the city rather than enter it.

San Francisco, Los Angeles and New York had the highest percentages of home seekers looking to move.

“More homebuyers wanted to leave San Francisco than any other major metropolitan area, followed by Los Angeles, New York, Washington DC and Boston,” the report said.

27% of New York City searchers were looking for homes elsewhere, with Florida being their top destination. For aspiring Empire State defectors, Miami was at the top of their wish list, followed by Tampa and Sarasota.

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New Yorkers looking for homes have chosen Miami as their top choice.

New Yorkers looking for homes have chosen Miami as their top choice.


Los Angeles residents preferred Las Vegas and San Diego, all San Francisco residents preferred Sacramento.

Los Angeles residents preferred Las Vegas and San Diego, all San Francisco residents preferred Sacramento.


But Zhao noted that interest rate hikes and growing worries about the health of the economy could hamper resettlement in the near future.

“Migration is likely to slow down in the coming months because the weakening labor market and job losses will force more people to stay or move in with their families, although some may have to relocate in search of new job opportunities. In addition, many remote workers who wanted to relocate have already done so,” she said.

The report said that Los Angeles preferred Las Vegas and San Diego, while San Francisco residents explored their prospects in Sacramento.

More San Franciscans were looking for homes in Sacramento than in any other city.
More San Franciscans were looking for homes in Sacramento than in any other city.
Getty Images/iStockphoto

Redfin noted that homes in the California capital have an average price of $560,000, while real estate in San Francisco remains sky-high at $1.5 million.

More Washington, D.C. residents looked for homes in Salisbury, Maryland than any other city, while Chicago residents preferred Milwaukee.

Credit: nypost.com /

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