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Denver transplants have 15% higher homebuying budgets than locals, Redfin says

Redfin.com found transplants in 42 U.S. cities had more to spend on homes than locals.
Credit: Feverpitched

DENVER — Transplants to Denver had a budget 14.8% higher than locals shopping for homes, according to a recent analysis of the average budgets of Redfin home searchers in 2021.

The study further credits complaints by aspiring homebuyers in the Denver area who warn that out-of-state money is swooping up the limited number of homes available on the market.

That gap between maximum budgets breaks down to an average of $901,386 for out-of-towners compared to locals shopping with $785,171, the analysis found.

In its analysis of users, Redfin Corp. (Nasdaq: RDFN) found relocators in 42 out of 49 cities had more to spend on homes than locals. Out of those 42, Denver ranked 12th. No other Colorado cities made the list.

Continue reading this story at Denver Business Journal.

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