Missouri, Texas, Indiana, and Nevada Metros Showcase Highest Housing Turnover Rates
Serhant. founder & CEO Ryan Serhant shares his perspective on the housing market on ‘The Claman Countdown.’
While U.S. housing markets are experiencing the lowest turnover rates in decades, certain metropolitan areas in Missouri, Texas, Indiana, and Nevada are defying this trend.
An analysis conducted by Redfin indicates that only 28 out of every 1,000 homes in the U.S. changed hands during the first nine months of 2025, marking the lowest turnover rate since the 1990s. The primary reasons for this stagnation include affordability challenges and economic uncertainty, which have deterred buyers and sellers from making moves.
However, specific metros in Missouri, Texas, Indiana, and Nevada have reported notably high homeowner turnover rates between September 2024 and August 2025. Realtor.com evaluated 50 of the largest metros across the country during this timeframe.
According to Hannah Jones, a senior economic research analyst at Realtor.com, the elevated turnover rates in these areas can be attributed to a combination of affordability and ample inventory.
HOUSING AFFORDABILITY CRISIS HAMMERING RURAL AMERICA
“Homeowners in affordable markets can more easily afford to move, benefiting from strong demand for affordable homes. This dynamic leads to homes being listed and sold successfully, resulting in high turnover,” Jones explained.
A view of the downtown buildings and the Lady Bird Lake as people are seen on the Pfluger Pedestrian Bridge in Austin, Texas. (Jakub Porzycki/NurPhoto/Getty Images)
Texas is witnessing a significant amount of housing turnover, particularly due to its markets being among the best-supplied in the nation.
“Many Texas metros have more homes for sale today than they did before the pandemic, largely thanks to robust new construction activity,” Jones noted. “This elevated inventory creates buyer-friendly conditions, which support higher turnover.”
MORE THAN HALF OF US HOMES LOST VALUE OVER THE LAST YEAR
Despite the nationwide decline in affordability, Jones emphasized that “relative affordability in many of these markets remains better than in pricey coastal areas.” She pointed out that home prices are lower, allowing buyers to often secure more space for their money.
Aerial night skyline of Nashville, Tennessee, 2010. (Carol M. Highsmith/Buyenlarge/Getty Images)
“This means that more households can actually transact, qualify for mortgages, move up, or relocate within the state without facing the extreme cost pressures seen elsewhere,” she added.
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
A view of the Las Vegas strip. (Jakub Porzycki/NurPhoto via Getty Images)
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
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St. Louis, Missouri
• Median list price: $295,900
• Turnover rate: 39 per 1,000 homes
Serhant. founder & CEO Ryan Serhant shares his perspective on the housing market on ‘The Claman Countdown.’
While U.S. housing markets are experiencing the lowest turnover rates in decades, certain metropolitan areas in Missouri, Texas, Indiana, and Nevada are defying this trend.
An analysis conducted by Redfin indicates that only 28 out of every 1,000 homes in the U.S. changed hands during the first nine months of 2025, marking the lowest turnover rate since the 1990s. The primary reasons for this stagnation include affordability challenges and economic uncertainty, which have deterred buyers and sellers from making moves.
However, specific metros in Missouri, Texas, Indiana, and Nevada have reported notably high homeowner turnover rates between September 2024 and August 2025. Realtor.com evaluated 50 of the largest metros across the country during this timeframe.
According to Hannah Jones, a senior economic research analyst at Realtor.com, the elevated turnover rates in these areas can be attributed to a combination of affordability and ample inventory.
HOUSING AFFORDABILITY CRISIS HAMMERING RURAL AMERICA
“Homeowners in affordable markets can more easily afford to move, benefiting from strong demand for affordable homes. This dynamic leads to homes being listed and sold successfully, resulting in high turnover,” Jones explained.
A view of the downtown buildings and the Lady Bird Lake as people are seen on the Pfluger Pedestrian Bridge in Austin, Texas. (Jakub Porzycki/NurPhoto/Getty Images)
Texas is witnessing a significant amount of housing turnover, particularly due to its markets being among the best-supplied in the nation.
“Many Texas metros have more homes for sale today than they did before the pandemic, largely thanks to robust new construction activity,” Jones noted. “This elevated inventory creates buyer-friendly conditions, which support higher turnover.”
MORE THAN HALF OF US HOMES LOST VALUE OVER THE LAST YEAR
Despite the nationwide decline in affordability, Jones emphasized that “relative affordability in many of these markets remains better than in pricey coastal areas.” She pointed out that home prices are lower, allowing buyers to often secure more space for their money.
Aerial night skyline of Nashville, Tennessee, 2010. (Carol M. Highsmith/Buyenlarge/Getty Images)
“This means that more households can actually transact, qualify for mortgages, move up, or relocate within the state without facing the extreme cost pressures seen elsewhere,” she added.
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
A view of the Las Vegas strip. (Jakub Porzycki/NurPhoto via Getty Images)
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
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St. Louis, Missouri
• Median list price: $295,900
• Turnover rate: 39 per 1,000 homes
