Homeowners are likely to move to these cities in Q3

Chicago and Washington, D.C., are among the top metro areas where homeowners are likely to move in the third quarter, according to the Pre-Mover Housing Index released by ATTOM Data Solutions.

Data from purchase loan applications on residential real estate transactions showed Orlando and Tampa-St. Petersburg in Florida and Atlanta rounding out the top five mover destinations among the 36 metros with at least 500,000 single-family homes and condos.

The five metros posted the highest pre-mover index in the second quarter, indicating a high percentage of homeowners moving in the third quarter.

Broadening the coverage to the 131 metro areas with at least 100,000 single-family homes and condos, Wilmington, N.C., topped the rankings with a pre-mover index of 206. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 90 days in a given market.

Colorado Springs, Colo., followed with 178 and Manchester-Nashua, N.H. with 172. Chicago was fourth with an index of 168 and Washington was fifth with 166.

"A higher pre-mover index bodes well for local real estate agents, home improvement stores, moving companies, and others that benefit from the halo effect of a home sale," said Daren Blomquist, ATTOM Data Solutions senior vice president. "Meanwhile, markets with a low pre-mover index likely have a scarcity of inventory available to buy or relatively weak demand from prospective buyers — or some combination of both — which is not optimal for businesses that rely on the home sale halo effect."

Cleveland’s pre-mover index of 38 was the lowest among the 36 metros with at least 500,000 single-family homes and condos. Boston (39), Pittsburgh (48), Detroit (48), and San Francisco (49) rounded out of the bottom five.