For millions, summertime is moving time. The kids are out of school, the weather is generally better, and it’s the time when you have the best chance to sell your home. Especially if your home happens to be in a hot real estate market.
Realtor.com looked at where people are moving and what they’re buying. The common theme is a strong job market and affordable housing.
According to the real estate website, Tampa tops the list of metros gaining the most population between 2009 and 2013. Tampa boasts an unemployment rate of just 4.4% and a median home price of $230,000.
Another Florida market, Jacksonville, is number two. It also has a 4.4% unemployment rate and a median home price of $272,400. The rest of the state continues to recover from the housing crash, but things have slowed a bit in south Florida, with fewer foreign buyers picking up resort area property.
Charlotte, N.C. is the third hottest metro. Its unemployment rate is 5.1% and its median home price is $257,500.
Two Texas cities, San Antonio and Austin, round out the top five.
Where they’re leaving
New York City is the big loser, according to the survey. Even though unemployment is relatively low, at 5%, housing there is not exactly affordable. Chicago is second in losing population. Its median home price is a lot lower but it has a higher unemployment rate.
Detroit follows Chicago. It actually has a lot of things Millennials find attractive – cheap urban real estate – but it continues to struggle with the aftermath of bankruptcy, with more people moving out than moving in.
San Jose, Calif., is fourth on the list, even though it has very low unemployment and lots of high-paying tech jobs. The problem is affordable housing. There isn’t any. The median home value there is $983,900.
People are also leaving Los Angeles, fifth on the list. Its unemployment rate is only 4.8% but its median home price is $687,000.
Where are people going? Realtor.com says New Yorkers are mostly moving to Florida. San Franciscans are opting for cheaper cities away from the coast but staying in the state. People leaving LA are most likely to land in Las Vegas.
Everyone else, it seems, is moving to Texas.