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ARIZONA
Phoenix Remains a Hot Migration Market
e number of home searchers looking to relocate currently sits
at the highest level on record, and Phoenix, Arizona, is once again
the top market for relocation searches, according to a recent report
from Redfin. It reported the number of people looking to relocate in
the Q1 2019 increased to 25%, compared to 23% in Q1 2018.
Net inflow—more people are looking to move in than leave—
for Phoenix hit 7,949, which is the highest net inflow on record not
only for Phoenix but for any metro area to date since Redfin began
reporting net migration data in early 2017.
e share of homebuyers searching in the Phoenix area also hit
a new high of 34.5% in the first quarter, topping the previous high of
34% in Q2 2018. Phoenix re-claimed the top spot from Sacramento.
"So many people are coming here from expensive cities like Los
Angeles, San Francisco, and Seattle for our low cost of living and
great weather," said Heather Corley, a Phoenix-area Redfin agent.
"e trend is really increasing lately thanks to strong job growth
and companies such as Allstate, Intel, Boeing, Microsoft, and
Facebook moving to the area."
"Many of the buyers I work with are moving away from expen-
sive places in California to escape high taxes, traffic, and natural
disasters," Phoenix-area Redfin agent Van Welborn said.
Phoenix has sustained a top-five ranking in Redfin's survey since
Q1 2017 and has seen its new inflow increase from around 2,500 to
7,949 during that period of time.
