Home Shoppers Look Beyond Their Backyards as Affordability Shapes Demand, Realtor.com® Reports
Rhea-AI Summary
Realtor.com (owned by NWS) reports that in Q2 2026, 60.1% of home views from the 100 largest U.S. metros went to listings outside shoppers’ local markets, up from 48.2% in 2019 and 59.1% a year earlier, underscoring growing cross‑market housing demand.
Western metros were most outward‑looking, with nearly two‑thirds of views targeting other markets. Fourteen relatively low‑cost metros, led by St. Louis at 59.8% local views, retained more in‑metro shoppers while attracting interest from higher‑priced areas. In contrast, high‑cost markets such as San Jose (94.4% of views out‑of‑market, median price $1.39 million) and Los Angeles sent shoppers to more affordable nearby metros, while strong job centers like San Francisco, Nashville and Raleigh still drew demand despite higher prices.
Positive
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Negative
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Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 19 | Housing market analysis | Neutral | +0.1% | Report described a K-shaped housing market and reduced engagement from price-sensitive shoppers. |
| Aug 18 | Cash buyer report | Negative | +2.5% | Cash purchases declined faster than overall home sales during the first four months. |
| Aug 17 | Rent report | Negative | -1.5% | Renting remained cheaper than buying starter homes across all 50 largest metros. |
| Aug 12 | Luxury housing report | Negative | +0.1% | Luxury thresholds declined for the 29th consecutive month despite faster turnover. |
| Aug 11 | AI product launch | Positive | +0.5% | New York Post Media Group launched Hamilton, an AI-powered personalized news experience. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent Realtor.com-related announcements produced mixed stock reactions, with three divergences and two aligned responses.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Western metros lead the nation in looking beyond their local markets, as affordability and job opportunity shape where home shoppers search
At
"Home shoppers are increasingly looking beyond the market where they live, but the reasons vary by metro," said Jiayi Xu, senior economist at Realtor.com®. "In lower-cost markets, affordability gives residents a reason to stay and attracts shoppers from more expensive places. Where prices have outrun local budgets, shoppers are looking farther afield, sometimes toward a more affordable nearby market and sometimes toward a stronger job center."
Western Home Shoppers Most Likely to Look Elsewhere
In the second quarter of 2026, nearly two-thirds of online home views from Western metros went to listings outside those markets, compared with
Before the pandemic, the West was the only region where more than half of online home views went to listings outside the local market. The West has continued to lead, while the Midwest has recorded the lowest share since the pandemic.
Affordability as an Anchor: Low-Cost Metros Retain Locals and Attract Outsiders
Shoppers in 14 of the 100 largest metros were more likely to keep their home search close to home, with more than half of their online traffic going to listings within their own metro.
In each of these markets, median listing prices were below the national average, suggesting that relative affordability may make it easier for local shoppers to find a home that fits their budget without looking farther afield.
Low-Cost Metros Retain Locals and Attract Outsiders
Metro | % Traffic to | Median | % | Top Viewers Are From | % Price Diff |
59.8 % | -32.6 % |
| -25.3 % | ||
57.0 % | -37.0 % | -54.2 % | |||
| 54.8 % | -29.3 % |
| -21.6 % | |
54.7 % | -40.9 % | -57.0 % | |||
Tampa-St. | 53.5 % | -6.1 % | -19.4 % | ||
| 53.3 % | -25.7 % | -25.3 % | ||
52.7 % | -25.7 % |
| -59.2 % | ||
52.6 % | -37.5 % |
| -65.7 % | ||
52.4 % | -38.6 % | -17.8 % | |||
52.3 % | -31.1 % | -32.2 % | |||
52.1 % | -35.3 % | -36.3 % | |||
San Antonio-New | 51.4 % | -24.1 % | -25.4 % | ||
51.1 % | -27.2 % |
| -60.0 % | ||
| 51.0 % | -18.1 % | 9.7 % |
The same affordability advantage can also attract shoppers from more expensive markets. For 13 of the 14 metros, the largest out-of-market source was a metro with higher median listing prices, including
High-Cost Markets Send More Shoppers Elsewhere, While Jobs Can Draw Them In
In
Affordability pressure is no longer limited to the country's most expensive markets. Shoppers in metros such as
For example, homes viewed by
Employment can also shape where shoppers look.
Metros With the Most Out-of-Market Home Shopping
Metro | % Traffic to | Median | Unemployment | Top | % Price Diff, | Top |
| 94.4 % | 4.0 | San | -28.4 % | 4.2 | |
| 85.9 % | 4.1 | -34.6 % | 4.0 | ||
83.8 % | 5.0 |
| -24.1 % | 5.0 | ||
78.0 % | 3.9 |
| -15.4 % | 4.1 | ||
77.5 % | 3.4 | -17.8 % | 5.4 | |||
Atlanta-Sandy | 75.0 % | 3.5 |
| 2.6 % | 3.6 | |
Durham-Chapel | 73.2 % | 3.2 |
| -6.9 % | 3.1 | |
72.9 % | 3.6 | -5.1 % | 3.6 | |||
71.8 % | 3.7 | 80.0 % | 3.2 | |||
| 71.5 % | 6.2 | 4.0 % | 4.8 | ||
71.5 % | 4.0 | 3.8 % | 3.8 | |||
Los Angeles- | 70.4 % | 5.0 |
| -45.8 % | 5.3 |
Methodology
This report analyzes views of for-sale listings on the Realtor.com® marketplace in the 100 largest metros between April and June 2026. More data can be found in the Cross-Market Demand report.
About Realtor.com®
For over 30 years, Realtor.com® has connected buyers, sellers, and renters with trusted insights, professional guidance, and powerful tools to help them find their perfect home. Recognized as the No. 1 real estate site REALTOR® agents recommend, Realtor.com® delivers consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media contact: Janice McDill, press@realtor.com
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SOURCE Realtor.com