Zillow Finds Buffalo, Chicago And Houston Lead Out-Of-Town Rental Searches

According to CNBC, Zillow said Buffalo, New York; Chicago and Houston are seeing the biggest growth in out-of-town rental searches, followed by New Orleans and Dallas. Among markets that have already seen significant in-migration, including Salt Lake City; Raleigh, North Carolina; Hartford, Connecticut; and Nashville, Tennessee, out-of-town searches now outnumber local searches. Zillow chief economist Mischa Fisher said a year-over-year surge in out-of-town browsing in Buffalo and Chicago suggests a wave of newcomers may not be far behind. The article also said the national median price of an existing home sold in July was $434,100, while August rents turned positive month to month for the first time in four years, according to Apartment List.