LA Residents Show Interest in Detroit
It’s no secret that the Detroit Metro area has been topping the list of most affordable cities to live for the last few years, but what is surprising is the heads that information is turning.
Redfin, a residential real estate company, recently announced some interesting findings. The Seattle-based company operates a web-based real estate database and they utilized this database to create an updated migration report. This report tracks where users have been searching for properties and where the searches originate. This allows the company to get an idea of what cities are attracting the most buyers—and from where these buyers are coming from.
To generate the report, Redfin compiled over a million users’ searches which spanned over 75 metro areas and covers the first quarter of 2017, making it the most accurate report currently available in real estate trends.
According to their reports, Detroit has been attracting the most attention from users in Los Angeles, San Francisco, and Chicago. This is perhaps in conjunction with Detroit’s recent economic growth patterns and below national average housing costs.
The report also showed a trend in where Detroit residents were shopping for homes. Averages of 79.1% of users in the Detroit area were browsing properties within the metro area—a good sign for the quality of life within the city. The remaining 20.9% of users were looking outside of Detroit, lining up with the national average. The top searches for Detroit users looking elsewhere show Chicago, LA, and Seattle as the top contenders.
News and Image Source: https://detroit.curbed.com/2017/4/26/15437810/detroit-area-home-search