A new home-search survey shows that almost twice as many people may want to leave Orange County than move here. The real estate search site Trulia.com recently released its first “Metro Movers Index,” which compared the number of outsiders searching for Orange County housing to the number of locals searching for homes elsewhere. The data is based on housing searches conducted on the online housing site over the summer. Orange County’s rating is 0.53, which means that for every 100 outsiders conducting searches of Orange County homes for sale or rent, 189 locals are looking at properties elsewhere. Out of 90 U.S. metro areas with 250,000 or more households, Orange County had the 16th lowest index number. The lower the number, the higher the ratio of people wanting to move out than in.
The metro area with the lowest index was Washington, D.C., which has 270 people looking to move out for every 100 wanting to move in. The Sarasota, Florida area ranked as the top for outside searchers, with six times as many inbound home searches by outsiders than outbound searches by locals.
Nearly six out of every 10 properties viewed at the online housing site were outside the the house hunter’s current metropolitan area. Most of those searches are between neighboring metros, with Los Angeles County residents searching in the Inland Empire the top “cross-metro” search pattern.
Orange County residents searching for homes in L.A. County was the third most common type of cross-metro searching, but L.A. residents searching for an Orange County home was the fifth most common pattern. For more information contact Dr. Wallace Walrod, Chief Economic Advisor.