Real Estate News

Sacramento is among the nation’s top destinations for homebuyers. Where the region ranks

A record number of Americans looked to move cities in January. And Sacramento was one of the top destinations in the nation.

A new report from real estate technology firm Redfin shows the Sacramento metropolitan region was the fourth most-popular destination for people looking to relocate in the first month of 2022.

To calculate its migration data, Redfin counted the number of people from outside Sacramento looking on the site for homes here and subtracted that by the number of Sacramentans looking for homes elsewhere. Redfin said it weeds out casual searches by only counting those people who viewed at least 10 homes in a region. Homes in a region must also make up at least 80% of the views from searchers.

The data showed the Sacramento region had a net inflow in January of more than 6,100 real estate hunters. That was about a 14% increase over the same time last year.

Not surprisingly, the top origin for people looking to move to Sacramento in January was the Bay Area. Outside of California, the top origin for people moving to Sacramento was Seattle.

At the same time, the San Francisco area had the highest net migration outflow in the country in January – and Sacramento was the top landing spot for people leaving the expensive Bay Area market.

Homebuyers are increasingly looking to move from ultra-expensive markets such as San Francisco, Los Angeles and New York to relatively affordable markets such as Miami, Phoenix and Sacramento, according to Redfin’s data. Nationwide, about 32% of Redfin users are looking to relocate to a new city.

While Sacramento remains affordable compared to the Bay Area and Los Angeles, home prices here have gone up by record levels over the past year.

Sacramento has held a steady spot on Redfin’s top migration destinations. It was also the fourth most-popular spot in the nation for the last three months of 2021. During that stretch, Reno was the top out-of-state origin for people looking to move here.

This story was originally published February 28, 2022 at 1:09 PM.

RL
Ryan Lillis
The Sacramento Bee
Ryan Lillis was a reporter and editor for The Sacramento Bee.
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