San Francisco’s mass exodus: Twice as many homes are for sale compared to last year as people look to leave the city
- San Francisco housing inventory has risen 96% year-over-year, meaning there are nearly twice as many homes listed for sale as there were this time last year, per a Zillow report.
- The statistic is just one of the latest in a growing pile of evidence that the pandemic and a rise in remote work are allowing residents to leave for more affordable places.
- San Francisco is just one of the major cities across the country is at the center of a debate around the post-coronavirus future of urban areas.
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Nearly twice as many homes are for sale in San Francisco as residents continue to leave one of the most expensive cities in the country amid a pandemic-driven exodus.
According to a Zillow report published last week, housing inventory is up 96% from this time last year, and listing prices have also dropped by 5%. Though you’ll still spot San Francisco’s infamously high price tags on online housing sites — Zillow lists the city’s median home value at about $1.45 million.
The report points out that other metro areas are not seeing the flood of new listings that San Francisco is …continued .
[Source: Business Insider]