With out-of-market purchasers accounting for 61.9% of online views to properties in the 100 largest metro areas in Q4 of 2025, cross-market home shopping remained dominant, according to the latest Cross-Market Demand Report from Realtor.com. This is a little decrease from last year’s 64.7% and an increase from 48.6% pre-pandemic in Q4 of 2019. This pattern demonstrates a structural change in housing demand over the previous six years, indicating a more mobile and connected market.
Local consumers dominated major metro areas in the Midwest and the Northeast in 2019Q4, with out-of-market demand averaging only 40.8% and 45.4%, respectively. In both regions, out-of-market demand exceeded local demand by Q4 of 2025, averaging 55.8% for Midwest metro areas and an estimated 62.1% for Northeastern metro areas. In addition, during the last six years, out-of-metro demand has grown the fastest for homes in Northeastern metro areas, while within-metro demand has decreased somewhat.
The lock-in effect, which concentrates transactions among out-of-metropolitan purchasers because existing homeowners—especially in more expensive markets—are less inclined to transfer due to high mortgage rates and a lack of accessible inventory, may be the main cause of this tendency.
In the meantime, in Q4 of 2019, metro areas in the West (50.9%) and the South (52.3%) were already dominated by online views from nonlocal buyers. The fact that their average share increased to 64.6% and 61.7% by 2025Q4 indicates that out-of-market demand has continuously surpassed local demand. Southern metro areas have continuously drawn the largest percentage of out-of-market purchasers during the previous six years.
Out-of-Market Demand Consistently Outperforms Local Demand
Local homebuyers dominated just 13 of the 100 major metro areas in 2025Q4. New York, NY, had the lowest percentage of out-of-market visitation among them (26.4%), mostly as a result of high housing costs that put immigrants at a disadvantage. A similar situation exists in Washington, DC, where citizens who currently dwell in the metro area are favored by high house prices and a concentration of government-related jobs. Strong local job markets and economic stability in Chicago, Dallas, and Atlanta encourage residents to stay in the metro area, which increases the proportion of local buyers.
However, the harsh winters in Chicago and the intense heat in Dallas and Atlanta might drive some non-local buyers to other competitive Sun Belt regions, further solidifying the local population’s hegemony.
Markets Led by Local Shoppers in Q4 2025:
| Rank | Market | Traffic from local shoppers %(Q4 2019) | Traffic from out-of-market shoppers %(Q4 2019) | Traffic from local shoppers % (Q4 2025) | Traffic from out-of-market shoppers % (Q4 2025) |
| 1 | New York-Newark-Jersey City, NY-NJ | 81.9% | 18.2% | 73.7% | 26.4% |
| 2 | Chicago-Naperville-Elgin, IL-IN | 80.2% | 19.8% | 72.3% | 27.7% |
| 3 | Dallas-Fort Worth-Arlington, Texas | 74.4% | 25.7% | 68.0% | 32.1% |
| 4 | Atlanta-Sandy Springs-Roswell, GA | 67.1% | 32.9% | 61.4% | 38.6% |
| 5 | Washington-Arlington-Alexandria, DC-VA-MD-WV | 67.9% | 32.1% | 60.6% | 39.4% |
Although local purchasers still account for the bulk of these markets’ views, the proportion of local interaction in each market has decreased over the past six years. This pattern implies that out-of-market purchasers are becoming more and more important in these markets. Put differently, there is now a much less disparity between local and nonlocal demand.
Markets like Indianapolis, Denver, and St. Louis have moved toward a more balanced dynamic, while big hubs like New York City, Chicago, and Dallas are still primarily controlled by local shoppers—as seen by a continually broad disparity in traffic shares. Over the previous six years, the percentage of local traffic in these areas has decreased from over 60% to the 50% level. The gap between local and nonlocal interest has essentially reduced to almost zero as a result of this shift, indicating a more equal distribution of buyer demand.
Out-of-market housing demand exceeded local demand in 87 of the 100 largest metro areas in Q4 of 2025, and the percentage of out-of-market home buyers in each of these metro areas increased from six years prior. The reasonably priced, rapidly expanding Sun Belt and lifestyle-focused metro areas like Durham, NC, Cape Coral, FL, and Lakeland, FL, are at the top of this pack. These markets are notable for their lifestyle attractiveness, particularly for retirees, substantial migrant inflows, and cheaper house prices compared to major coastal cities. Additionally, many draw in investors and demand for second or even third homes, increasing the proportion of nonlocal buyers.
Kiryas Joel–Poughkeepsie–Newburgh, NY, stands out as a non-Sun Belt metro among the top five markets dominated by nonlocal house shoppers. Compared to New York City, the Hudson Valley metro area offers more reasonably priced housing, which draws out-of-market homebuyers.
Top Five Markets Fueled by Out-of-Market Demand in Q4 of 2025:
| Rank | Market | Traffic from out-of-market shoppers % (Q4 2025) | Traffic from local shoppers % Q4 2025) | Traffic from out-of-market shoppers % (Q4 2019) | Traffic from local shoppers % Q4 2019) |
| 1 | Cape Coral-Fort Myers, FL | 82.5% | 17.5% | 73.8% | 26.2% |
| 2 | Lakeland-Winter Haven, FL | 79.8% | 20.2% | 69.9% | 30.2% |
| 3 | Durham-Chapel Hill, NC | 78.2% | 21.8% | 67.3% | 32.7% |
| 4 | North Port-Bradenton-Sarasota, FL | 77.8% | 22.3% | 67.5% | 32.5% |
| 5 | Kiryas Joel-Poughkeepsie-Newburgh, NY | 77.5% | 22.5% | 64.6% | 35.4% |
AI and Data Centers Draw More Out-of-Market Customers Than Locals
Some 39 of the 100 largest metro areas have seen a change from being driven by local purchasers to being dominated by out-of-market buyers. The highest fluctuations have been seen in:
- San Francisco
- Philadelphia
- Pittsburgh
- Omaha, NE
- Detroit
It’s interesting to note that the top five metro areas are seeing an increase in power infrastructure, data center expansions, and AI-driven employment. An AI comeback is driving fresh interest from outside San Francisco. Multibillion-dollar investments in cloud-focused data centers and artificial intelligence around Pennsylvania are helping Philadelphia and Pittsburgh. Meanwhile, more out-of-market purchasers are gravitating toward these rapidly expanding, opportunity-rich areas due to the increase in data center and infrastructure developments in Omaha, NE, and Detroit.
Markets Experiencing Shifts: From Local-Buyer-Dominated to Out-of-Market-Driven
| Rank | Market | Traffic from out-of-market shoppers % (Q4 2025) | Traffic from out-of-market shoppers % (Q4 2019) | Change in out-of-market share % |
| 1 | San Francisco-Oakland-Fremont, CA | 58.7% | 33.3% | 25.4% |
| 2 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 53.0% | 28.0% | 25.0% |
| 3 | Pittsburgh | 55.0% | 30.5% | 24.5% |
| 4 | Omaha, NE-IA | 59.7% | 36.0% | 23.7% |
| 5 | Detroit-Warren-Dearborn, MI | 52.4% | 29.2% | 23.2% |
To read the full report with rankings, click here.
