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Dallas unlocks No. 10 spot among hottest markets for relocating homebuyers

Dallas unlocks No. 10 spot among hottest markets for relocating buyers

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The report suggests almost 5,000 Redfin users relocated to DFW in the second quarter. Photo by Getty Images

Despite rising home prices, buyers are still flocking to the Dallas-Fort Worth metro area.

Among more than 100 major metro areas, DFW ranked as the 10th most popular destination for homebuyers moving to the area compared with homebuyers leaving the area, according to the Redfin real estate platform.

Redfin’s report suggests 4,964 Redfin users relocated to the Dallas area in the second quarter of 2022, compared with 7,458 during the same period last year. 

Miami topped Redfin’s list of the most popular migration destinations in the second quarter of this year. San Antonio, the only other Texas city on the list, landed at No. 9.

Redfin’s report indicates 5,335 Redfin users relocated to San Antonio in the second quarter, compared with 4,356 during the same period last year.

“Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and … goods is limiting their ability to buy homes in many U.S. cities,” says Taylor Marr, deputy chief economist at Redfin.

Redfin also notes that net inflow in markets such as Dallas has "started to slow down from last year. That’s partly because home prices have risen so much in those areas, taking them from relatively affordable to not-so-affordable."

During the second quarter, 25 percent of Redfin home searches in the Dallas area came from outside the region. The leading source of those searches? Buyers from Los Angeles. For San Antonio, the same figure was 42 percent, with buyers from Austin leading the way.