Inflation Drives Homebuyers to Target These More Affordable Cities

Decades-high inflation is driving many prospective homebuyers to consider a move to cities deemed to be more affordable, according to data released by real estate firm Redfin on Monday. Surging mortgage rates have crimped buying demand in the US housing market. But among homebuyers still looking to make a move during the third quarter, a record 24.2% were eyeing homes in a different metro area.

RELATED: Inflation’s so bad that half of American workers are considering a second job

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