Redfin data shows home prices still skyrocketing in migration hotspots – but not in this California city
Among the countless changes that swept across the U.S. during the pandemic were increased migration out of many big population centers – including the Bay Area – and a record surge in home prices nationwide.
But how do home price increases in migration magnets compare to the large metropolitan areas that are losing residents, like the Bay Area? Are more affordable areas becoming less so, as new buyers rush into the housing market? Are home-price increases more tempered in areas seeing lots of departures?