Sacramento Was the Most Popular Migration Destination in July

If you stick to within 10 miles from the coastline I don’t think it gets hot at all. La Jolla may be a bit too expensive (does Romney still own a house there?), but north county like Del Mar, Solana Beach and up, prices aren’t too bad. By “not too bad” I mean a bit over 1M for something over 2k ft. Can’t get a ranch for 500K like in Sac for sure.

My tenant at the farm just moved here from San Diego.
Paid $3500/m there for a two bedroom apartment. In Cameron Park he gets a 4/3 2500sf on five acres with a pool, orchard and vineyard for $3000/m. 3 miles from town. 15 minutes to Eldorado Hills. A new three bedroom apartment by Costco is $3000/m in Folsom.

Although Austin is typically on the top 10 list of most popular destinations, this is the first time it has broken into the top three since Redfin began tracking migration.

Austin is getting increasingly popular :wink:

The national housing market is booming as the coronavirus pandemic changes what people look for in a home, such as more space to work and do schoolwork and bigger yards.

As people discover they can get these (bold words) for far cheaper price, they won’t want to go back to stay in SF. Soon they would discover many have attached bathrooms! very critical for home-quarantine.

Floodgate out of SF is getting bigger.

Do more now agree that pressure is easing off SFBA real estate? Or not yet.

Ease since late 2018. SF continues to ease off. Rest of SV seem steady. Exurbs seem strong.

At the moment, yes. WFH has made everyone rethink whether they really need to be within 10 miles of the office. My crystal ball suggests its temporary. In a year or two when everyone’s rushing back there will be a rebound. If you can get a deal in the core Bay Area pretty much always worth taking it.

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Just curious why homes are expensive in Sacramento Area (particularly Roseville and EDH) compared to rest of the central valley ? what is their claim to fame?

There is a small Sacramento industry called state government. The biggest spender in the history of the world. Heard of it?

Also Folsom has Intel and other tech. Sacramento MSA of 2.5m is a major attraction for BA retirees.
Tahoe, Napa and the BA are major tourist destinations 1-2 hrs away
Several colleges. UC Davis medical center.
Kings basketball. Sacramento River and the delta. Huge boating scene with fresh water. Does not get your boat bottom dirty. Folsom lake.

Center of the biggest agricultural bounty in the world.
Great restaurants like Kitchen. Diversity like the BA. Access to huge variety of foods and international restaurants.
Great weather. Beautiful warm evenings.
We eat outside almost every night.

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Emigration of rich people out of New York and California is now being covered by mainstream media. How will that affect Sacramento market?

I am willing to take a 20% hit in home prices if it makes bay area livable again. It means less construction, less people, less housing density, and less traffic.