United States Housing Market

Home prices nationwide were up 5.4% year-over-year in November. At the same time, the number of homes sold rose 5.1% and the number of homes for sale rose 11.7%.

Overview
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Demand
Migration
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U.S. Housing Demand

How competitive is the market?

In November 2024, 26.5% of homes in the U.S. sold above list price, down 2.3 pointsyear over year. There were only 18.3% of homes that had price drops, down from 18.0% of homes in November last year. There was a 98.7% sale-to-list price, down 0.22 points year over year. …

Homes that sold above list price likely received multiple offers. A high or growing percentage of homes selling above listprice indicates that the housing market is competitive and bidding wars are becoming more common. A low or shrinking percentage of homes selling above list price suggests that the market is becoming less competitive.…

Homes Sold Above List Price

(All Home Types)

26.5%

-2.3 pt YoY | Nov 2024

Based on Redfin calculations of home data from MLS and/or public records.

What does this mean?

Homes that sold above list price likely received multiple offers. A high or growing percentage of homes selling above list price indicates that the housing market is competitive and bidding wars are becoming more common. A low or shrinking percentage of homes selling above list price suggests that the market is becoming less competitive.

Location

Data

Nov 2024

Growth

% YoY

26.5%

-2.3 pt

Top 10 Most Competitive Cities in the U.S.

Competition calculated using Redfin's Compete Score™

U.S. Migration Trends

Where are people moving to and from?

Nationwide, 26% of homebuyers searched to move to a different metro area between Oct '24 - Dec '24. The top 5 states homebuyers searched to move to were Florida, North Carolina, Tennessee, Arizona, and South Carolina while California, New York, Illinois, Washington, and Maryland were the top 5 states homebuyers searched to move from.

Of all the major U.S. metros, Sacramento was the most searched for destination among homebuyers looking to relocate between Oct '24 - Dec '24. Next came Cape Coral, Myrtle Beach, Salisbury, and Portland. Los Angeles was the most searched for destination among homebuyers looking to leave, followed by New York, San Francisco, Seattle and Washington.

Moving to

Moving from

Data Unavailable

Top 10 areas people are moving to

Inbound		Net inflow
Metros		Oct '24 - Dec '24
1	Sacramento, CA	7,400
2	Cape Coral, FL	3,800
3	Myrtle Beach, SC	3,600
4	Salisbury, MD	3,300
5	Portland, ME	3,200
6	Las Vegas, NV	3,200
7	Sarasota, FL	3,200
8	Phoenix, AZ	3,100
9	Nashville, TN	3,100
10	Hilo, HI	2,900

Top 10 areas people are moving from

Outbound		Net outflow
Metros		Oct '24 - Dec '24
1	Los Angeles, CA	29,900
2	New York, NY	24,200
3	San Francisco, CA	24,000
4	Seattle, WA	18,700
5	Washington, DC	14,200
6	Chicago, IL	5,900
7	Philadelphia, PA	4,900
8	Dallas, TX	3,100
9	Denver, CO	2,500
10	Boston, MA	2,500

Methodology

This data does not reflect actual moves. The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.

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United States Housing Market

U.S. Housing Demand

Top 10 Most Competitive Cities in the U.S.

U.S. Migration Trends

Housing Market News

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