MORE HOMEBUYERS LOOK TO MOVE OUT OF METRO AREA

Real estate brokerage Redfin is measuring a sharp increase in the number of Denverarea residents searching for homes in other metros compared with the number of people in other cities looking for properties in metro Denver.

Redfin counted 3,007 more outbound searches on its portal than inbound searches for metro Denver. That’s the sixthhighest net outbound count behind San Francisco, New York, Los Angeles, Washington and Chicago, which are all much larger metros, according to its latest migration study.

Last year, property searches remained solidly in Denver’s favor, but that shifted in the first quarter, with more outbound than inbound searches. The gap was a small 309 in the first quarter, but it widened nearly tenfold in the second. That could spell trouble for those who count on migration to remain strong. About 23 percent of all searches for homes originating in the Denver market in the second quarter were for homes in another metro area. Of those looking to move, one in five were focused on Colorado Springs or Fort Collins.

Affordability could be a big reason why. The median list price of homes in Colorado Springs in July was $305,000 — $101,000 below Denver’s median list price, according to Redfin. The hottest markets for homeowners on the move in the second quarter were Phoenix; Sacramento, Calif.; Atlanta; Las Vegas; and Portland, Ore.