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House-hunting clients? Look here for suggestions

Staggering housing prices and steep tax rates are pushing people from expensive cities along the coasts to more affordable locales.

Data from the second quarter of 2018 showed inhabitants of Los Angeles, San Francisco and New York fleeing their cities in search of more economical places to live, according to a Redfin analysis of Census Bureau data.

“With home prices reaching new heights in many metro areas, it’s no surprise people are continuing to move away from expensive metros in search of homeownership,” Redfin Senior Economist Taylor Marr said in a statement. “Last year’s tax reform poured fuel on the fire. By capping mortgage interest and state and local tax deductions, there is an even greater incentive for homebuyers to consider moving to a lower-tax state.”

Advisors with clients looking to buy a home might want to take a look at the cities with the most out-of-town home shoppers.

The data is based on a sample of more than 1 million Redfin users searching for homes across 75 metro areas during the second quarter. The rankings are derived by comparing the number of out-of-towners searching in a metro area, minus local shoppers searching in other cities.

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Nashville
Net population inflow 2Q 2018: 2,462
Net population inflow 2017: 1,364
Top origin city: New York, N.Y.
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San Diego
Net population inflow 2Q 2018: 2,537
Net population inflow 2017: 5,286
Top origin city: Los Angeles, Calif.
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Miami
Net population inflow 2Q 2018: 2,575
Net population inflow 2017: 1,746
Top origin city: New York, N.Y.
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Dallas
Net population inflow 2Q 2018: 2,979
Net population inflow 2017: 2,036
Top origin city: Los Angeles, Calif.
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Austin, Texas
Net population inflow 2Q 2018: 3,212
Net population inflow 2017: 1,655
Top origin city: San Francisco, Calif.
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Portland, Oregon
Net population inflow 2Q 2018: 3,614
Net population inflow 2017: 1,190
Top origin city: San Francisco, Calif.
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Las Vegas
Net population inflow 2Q 2018: 3,786
Net population inflow 2017: 3,509
Top origin city: Los Angeles, Calif.
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Atlanta
Net population inflow 2Q 2018: 5,112
Net population inflow 2017: 2,767
Top origin city: New York, N.Y.
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Sacramento, California
Net population inflow 2Q 2018: 6,208
Net population inflow 2017: 4,833
Top origin city: San Francisco, Calif.
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Phoenix
Net population inflow 2Q 2018: 6,349
Net population inflow 2017: 3,849
Top origin city: Los Angeles, Calif.