Big City Exodus: Realtor.com® Report Finds Majority of Shoppers Looking to Relocate for Budget and Lifestyle

Rhea-AI Summary

Realtor.com (NASDAQ:NWSA) released a comprehensive report showing that 58.9% of home shoppers in the top 100 U.S. metros searched for properties outside their current metro area in Q2 2025, marking an 11 percentage point increase from 2019.

The report highlights significant trends, with San Jose leading outbound searches at 93.7%, followed by Washington D.C. (86.4%) and Seattle (80.5%). Former pandemic boomtowns like Phoenix and Spokane are experiencing declining popularity, while cities like Portland, San Francisco, and Houston have gained resident loyalty. The Western U.S. showed the highest out-of-market search activity at 65.1%, while the Northeast experienced the largest six-year increase, jumping from 45.4% to 58.8%.

Positive

• Increased market flexibility with 58.9% of shoppers willing to relocate, indicating a more dynamic housing market
• Some markets like Portland (-9.8%) and San Francisco (-5.9%) showed improved resident retention over six years
• Several metros maintained affordability advantages, with Houston showing only 16.5% price growth over six years

Negative

• Significant price increases in major metros, with Boston seeing 42.5% and Spokane 47.9% price growth since 2019
• Rising unemployment in key markets, with Fresno at 7.8% unemployment rate
• Former pandemic boomtowns experiencing exodus due to eroding affordability
• Increased outbound searches in major cities indicating potential market instability

Insights

Real Estate Market Analyst

Realtor.com data reveals accelerating big-city exodus driven by affordability issues, impacting NWSA's digital real estate business opportunities.

The latest Realtor.com report highlights a significant 10.8 percentage point increase in out-of-metro home searches since 2019, with 58.9% of shoppers now looking beyond their current locations. This represents a fundamental shift in American housing preferences that directly impacts News Corp's digital real estate services segment.

The data reveals three key market dynamics: First, residents are fleeing high-cost tech hubs, with San Jose (93.7%), Washington D.C. (86.4%), and Seattle (80.5%) showing the highest outbound search rates. Second, former pandemic boomtowns like Phoenix and Spokane are rapidly losing appeal as affordability advantages erode. Third, a handful of markets including Portland and San Francisco are bucking the trend, showing improved retention of local shoppers.

What's particularly telling is the correlation between outbound search activity, price growth, and unemployment. Nine of the top ten metros losing popularity saw home prices jump over 27% since 2019. For instance, Boston experienced a 42.5% price surge alongside unemployment rising from 2.7% to 4.2%.

This migration pattern creates both challenges and opportunities for Realtor.com. The platform benefits from increased search activity as users explore multiple markets, but faces pressure in high-outflow regions where listing inventory may struggle to meet demand. For News Corp, these trends suggest the need for targeted marketing strategies in emerging destination markets while maintaining strong presence in traditional high-volume metros.

The regional breakdown showing over 50% of search activity directed out-of-market across all U.S. regions signals this isn't merely a coastal phenomenon but a nationwide recalibration of housing preferences driven by remote work flexibility and persistent affordability constraints.

• Out-of-metro searches surged nearly 11 percentage points since 2019, led by San Jose, Calif., Washington D.C., and Seattle
• Portland, Oregon, San Francisco and Houston gained the most popularity among local residents over the past six years, while McAllen, Texas; Phoenix; and Spokane, Wash., lost popularity

AUSTIN, Texas, July 15, 2025 /PRNewswire/ -- With affordability still out of reach for many, a new report from Realtor.com^® found 58.9% of online home shoppers in the 100 largest U.S. metros looked outside their current metro in the second quarter of 2025, up from 48.1% in 2019, as buyers seek homes that better fit their budgets, job flexibility, and lifestyle needs.

"Affordability remains a primary driver of home searches, but evolving workplace policies, job opportunities and shifting local conditions also play a role. As regional housing trends diverge, home shoppers tapped the brakes compared to a year ago, but accelerated their searches elsewhere compared to 2019, across the 100 largest metros with sizable variation across markets," said Danielle Hale, chief economist at Realtor.com^®. "Despite the year over year step back, Americans continue to take a broader view of where they can live, often looking beyond their current metro areas in hopes of stretching their dollar and improving their lifestyle."

Big cities dominated the top ten metros as current residents overwhelmingly searched out of their markets driven by affordability challenges. San Jose, Calif., had the highest share of outbound search traffic, with 93.7% of shoppers looking at listings elsewhere. More than one-third of that activity was aimed outside California altogether.

Washington, D.C. (86.4%), Seattle (80.5%), and Salt Lake City (77%) also topped the list of metros with the most local residents eyeing an out of metro move. Notably, big cities New York, Boston, and Chicago joined the top 10 metros with the highest out-of-market search rates—reflecting a combination of rising home prices and growing unemployment.

Top 10 Metros Which Lost Popularity among Local Residents in the Second Quarter of 2025

Market	Out of Market Share 2025Q2	Rank 2025Q2	Rank 2024Q2
San Jose-Sunnyvale-Santa Clara, CA	93.7 %	1	1
Washington-Arlington-Alexandria, DC-VA-MD-WV	86.4 %	2	2
Seattle-Tacoma-Bellevue, WA	80.5 %	3	4
Salt Lake City-Murray, UT	77.0 %	4	7
Stockton-Lodi, CA	72.9 %	5	5
Durham-Chapel Hill, NC	72.6 %	6	9
Chicago-Naperville-Elgin, IL-IN	72.6 %	7	11
Denver-Aurora-Centennial, CO	72.1 %	8	8
Boston-Cambridge-Newton, MA-NH	72.0 %	9	26
New York-Newark-Jersey City, NY-NJ	71.7 %	10	12

Pandemic-Era Boomtowns Losing Steam As Affordability Wanes
Several cities which saw a surge in demand during the COVID-19 pandemic are now experiencing rising outbound interest as affordability erodes and return-to-office mandates take hold.

In Phoenix, the share of out-of-market views rose 28.5 percentage points over the past six years. Spokane, Wash., and Fresno, Calif., saw similar jumps of 27.7 and 21.3 points, respectively. McAllen, Texas, which once attracted pandemic-era buyers with its low cost of living, is now seeing an exodus as home prices rise and buyers redirect their attention to larger, higher-wage, high employment markets such as Austin and San Antonio.

High Home Prices and Rising Unemployment Drive Out of Metro Searches
Metros with the biggest increases in outbound search activity often experienced large jumps in home prices and rising unemployment over the past six years. Nine of the top ten metros with the biggest loss in popularity also saw prices jump more than 27% since 2019, with Boston seeing home prices climb 42.5% and Spokane, Wash., seeing home prices climb 47.9%. Chicago, the slowest growth market, saw prices grow 12.2%.

Top 10 Metros Which Lost Popularity among Local Residents over the Past Six Years

Market	Out of Market Share	Six Year Share Change	June 2025 Median Listing Price	Six Year Price Change	Unemployment rate (2025.05)	Unemployment rate  (2019.05)
McAllen-Edinburg-Mission, TX	65.0 %	30.0 %	$274,950	38.2 %	6.0	5.4
Phoenix-Mesa-Chandler, AZ	70.5 %	28.5 %	$520,000	36.8 %	3.7	4.1
Spokane-Spokane Valley, WA	61.5 %	27.7 %	$517,649	47.9 %	4.0	5.1
Chicago-Naperville-Elgin, IL-IN	72.6 %	25.7 %	$379,900	12.2 %	4.6	3.5
Boston-Cambridge-Newton, MA-NH	72.0 %	24.7 %	$854,974	42.5 %	4.2	2.7
Miami-Fort Lauderdale-West Palm Beach, FL	59.4 %	24.3 %	$510,000	27.5 %	3.1	3.0
Fresno, CA	60.3 %	21.3 %	$469,917	40.3 %	7.8	6.4
Charleston-North Charleston, SC	63.2 %	20.8 %	$535,000	27.7 %	3.1	2.3
New York-Newark-Jersey City, NY-NJ	71.7 %	20.7 %	$786,500	32.2 %	4.0	3.3
Tucson, AZ	63.7 %	19.8 %	$391,500	32.9 %	4.2	4.4

Relative Affordability is the Trend for Cities Holding on to Their Residents
Even as many metros lose shoppers to other regions, a handful are seeing increased loyalty from local buyers. San Francisco stands out with a decline in outbound search activity, from 68.9% in 2019 to 62.9% this year. Despite its high cost of living, recent improvements in affordability compared to neighboring metros—and signs of urban revitalization—may be helping retain residents.

Other metros that gained in popularity with their local shoppers include Portland, Ore.; Houston; Detroit; and Honolulu, many of which offer a blend of economic opportunity, relative affordability and quality-of-life amenities.

Top Metros That Gained Popularity among Local Residents over the Past Six Years

Metro	Out of Market Share	Six Year Share Change	June 2025 Median Listing Price	Six Year Price Change	Unemployment rate (2025.05)	Unemployment rate (2019.05)
Portland-Vancouver-Hillsboro, OR-WA	57.9 %	-9.8 %	$615,000	28.4 %	4.4	3.3
San Francisco-Oakland-Fremont, CA	62.9 %	-5.9 %	$998,500	4.0 %	3.9	2.3
Houston-Pasadena-The Woodlands, TX	54.0 %	-4.0 %	$374,925	16.5 %	4.2	3.4
Detroit-Warren-Dearborn, MI	45.5 %	-3.5 %	$279,950	6.9 %	4.6	4.1
Urban Honolulu, HI	67.8 %	-3.2 %	$670,000	-4.1 %	2.5	2.2
Omaha, NE-IA	55.5 %	-2.1 %	$400,000	33.8 %	3.1	3
Kansas City, MO-KS	48.5 %	-0.5 %	$409,475	26.1 %	3.8	3

Affordability Drives Searches Regionally

The Western U.S. had the highest share of out-of-market search activity, with 65.1% of shoppers in the region viewing listings elsewhere. However, the Northeast saw the largest increase over the past six years, rising from 45.4% to 58.8% as more residents in high-cost cities explored lower-priced alternatives.

While shoppers in the Midwest were more likely to stay local, with just 54% of views going to other metros, every U.S. region saw more than half of search activity directed out of the market—something that only the West saw six years ago.

 Percent of Views to Out-of-Metro Homes by Regions

Region	Share of Out-of-market Views, 2025Q2	YOY Change	Six Year Changes
Northeast	58.8 %	-2.1 ppt	13.4 ppt
Midwest	54.0 %	0.1 ppt	9.2 ppt
South	58.0 %	-0.1 ppt	11.2 ppt
West	65.1 %	-3.9 ppt	9.6 ppt
Top 100 Metros	58.9 %	-1.3 ppt	10.8 ppt

Methodology
This report analyzes views of for-sale listings on the Realtor.com marketplace in the Top 100 metros between April and June 2025. More data can be found here.

About Realtor.com^®
Realtor.com^® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com^® is a valued partner, delivering 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: Mallory Micetich, press@realtor.com

View original content:https://www.prnewswire.com/news-releases/big-city-exodus-realtorcom-report-finds-majority-of-shoppers-looking-to-relocate-for-budget-and-lifestyle-302504790.html

SOURCE Realtor.com

FAQ

What percentage of home shoppers looked outside their metro area in Q2 2025?

According to Realtor.com's report, 58.9% of online home shoppers in the 100 largest U.S. metros looked outside their current metro in Q2 2025, up from 48.1% in 2019.

Which U.S. metro had the highest percentage of residents looking to relocate in 2025?

San Jose, California had the highest share of outbound search traffic, with 93.7% of shoppers looking at listings elsewhere, with over one-third of that activity aimed outside California.

How have home prices changed in major metros since 2019?

Price changes varied significantly, with some metros seeing substantial increases: Spokane (47.9%), Boston (42.5%), and Fresno (40.3%). San Francisco showed more modest growth at 4.0%, while Honolulu decreased by 4.1%.

Which region showed the highest out-of-market search activity in 2025?

The Western U.S. had the highest share of out-of-market search activity at 65.1%, while the Northeast saw the largest increase over six years, rising from 45.4% to 58.8%.

Which cities gained the most popularity among local residents?

Portland, Oregon led with a 9.8% decrease in outbound searches, followed by San Francisco (-5.9%) and Houston (-4.0%), indicating increased resident retention in these markets.