What's Happening?
A recent report from Realtor.com highlights a significant shift in the U.S. housing market, where out-of-market shoppers now dominate home search activity in 87 of the largest 100 metropolitan areas. In the fourth quarter of 2025, 61.9% of online home views
were from buyers outside the local market, a notable increase from 48.6% in 2019. This trend, although slightly down from a peak of 64.7% last year, underscores a growing mobility among homebuyers. The Sun Belt, known for its affordability and lifestyle appeal, remains a top destination for these relocators, with cities like Cape Coral, Florida, and Durham, North Carolina, leading in non-local demand. The report also notes a rise in interest in the Hudson Valley, New York, as buyers seek more affordable options compared to New York City.
Why It's Important?
This shift in homebuyer behavior reflects broader economic and social trends, including the search for affordability and the influence of remote work. As more Americans become untethered from their current locations, they are exploring housing options in regions that offer better value and quality of life. This trend could have significant implications for local economies, particularly in the Sun Belt, which may see increased investment and development. Additionally, the rise in out-of-market interest could drive up property values in these areas, impacting affordability for local residents. The movement also highlights the potential for demographic shifts, as regions traditionally dominated by local buyers adapt to an influx of new residents.
What's Next?
As this trend continues, it is likely that more metropolitan areas will experience increased demand from out-of-town buyers. This could lead to further economic growth in regions like the Sun Belt, but also pose challenges related to infrastructure and housing affordability. Local governments and developers may need to adapt to accommodate the growing population and ensure sustainable development. Additionally, the ongoing interest in areas like the Hudson Valley suggests that even traditionally high-cost regions could see shifts in demand patterns, potentially influencing local housing policies and market dynamics.
