A new report from real estate brokerage firm Redfin shows two California cities — San Francisco and Los Angeles — topping a nationwide list of places people are moving away from. One big reason? High mortgage rates, inflation, and other economic factors.
“More homebuyers left the Bay Area than any other metro in July and August. That’s determined by net outflow, a measure of how many more Redfin.com users looked to leave a metro than move in,” according to the website.
“Next come Los Angeles, New York, Washington, D.C. and Boston, all expensive job centers highly populated by remote workers with the flexibility to relocate.”
The top relocation destination for San Franciscans was Sacramento. For Angelenos, it was San Diego. These cities ranked #2 and #3 respectively on Redfin’s list of the Top 10 Metros by Net Inflow.
Read more here.
Lists and data were compiled by Redfin and do not reflect statistics on all cities.