A new report shows that Sacramento continues to be a top destination for homebuyers leaving the Bay Area.
According to KRON (via Fox 40), Redfin's latest report shows that homebuyers living in expensive coastal cities like San Francisco, New York, and Washington DC are looking to move to more affordable metro areas with more ideal weather conditions.
Homebuyers' top destinations are Sacramento, Las Vegas, Phoenix, and Miami.
Redfin's Deputy Chief Economist Taylor Marr says that while the trend of moving from expensive cities to smaller, more affordable markets is nothing new, the pandemic sped up this trend and the real estate market remains hot for that reason.
Marr cites homeschooling/remote learning, remote-friendly jobs, and desire to keep higher-paying jobs with remote capabilities as factors that homebuyers take into consideration with this trend.
Read more here.