Thursday, December 1, 2022 | The Latest Buzz for the Appraisal Industry

High Rates, Inflation Prompt Homebuyers to Migrate to More Affordable Places

Surging mortgage rates and persistently high home prices are motivating many of the buyers who remain in the market to relocate to more affordable areas, but migration may slow as the economy continues to soften, according to a Redfin analysis. Nearly one-quarter (24.2%) of homebuyers nationwide looked to move to a different metro area in the third quarter, a record high. That’s up from 23.3% in the second quarter, 21.6% a year ago and

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