Metros in Missouri, Texas, Indiana and Nevada have the highest homeowner turnover rate, according to industry economists.
Realtor.com evaluated the 50 largest metros to determine which areas had the highest turnover rates of homeowners between September 2024 and August 2025.
Hannah Jones, Realtor.com senior economic research analyst, told FOX Business that the areas with the highest housing turnover see some combination of affordability and high inventory.
HOUSING AFFORDABILITY CRISIS HAMMERING RURAL AMERICA
“Homeowners in affordable markets can more easily afford to move, and benefit from strong demand for affordable homes. This means that homes hit the market and sell successfully, resulting in high turnover,” Jones said.
Texas is seeing a significant amount of housing turnover, in particular, because its markets are among the best-supplied in the country.
“Many Texas metros have more homes for sale today than they did before the pandemic, thanks in large part to robust new-construction activity,” Jones said, adding that “this elevated inventory creates buyer-friendly conditions, which support higher turnover.”
MORE THAN HALF OF US HOMES LOST VALUE OVER THE LAST YEAR
Even though affordability has worsened nationwide, Jones said that “relative affordability in many of these markets remains better than in pricey coastal markets.” She said that home prices are lower and buyers often get more space for their money.
“This means that more households can actually transact, they can qualify for mortgages, move up, or relocate within the state without facing the extreme cost pressures seen elsewhere,” she said.
WHY ARE MORTGAGE RATES INCREASING DESPITE A RATE CUT FROM THE FED?
The top 10 metros with the highest homeowner turnover, according to Realtor.com:
Kansas City, Missouri
• Median list price: $380,000
• Turnover rate: 45 per 1,000 homes
San Antonio, Texas
• Median list price: $329,000
• Turnover rate: 45 per 1,000 homes
Indianapolis, Indiana
• Median list price: $320,000
• Turnover rate: 45 per 1,000 homes
Las Vegas, Nevada
• Median list price: $471,975
• Turnover rate: 43 per 1,000 homes
Dallas–Fort Worth, Texas
• Median list price: $425,000
• Turnover rate: 42 per 1,000 homes
Nashville, Tennessee
• Median list price: $536,739
• Turnover rate: 42 per 1,000 homes
Austin, Texas
• Median list price: $489,859
• Turnover rate: 42 per 1,000 homes
Charlotte, North Carolina
• Median list price: $438,348
• Turnover rate: 42 per 1,000 homes
Houston, Texas
• Median list price: $358,000
• Turnover rate: 40 per 1,000 homes
St. Louis, Missouri
• Median list price: $295,900
• Turnover rate: 39 per 1,000 homes
Read the full article here
