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San Francisco’s mass exodus: Twice as many homes are for sale compared to last year as people look to leave the city

EditorBusiness InsiderAugust 17, 2020

  • 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.
  • Visit Business Insider’s homepage for more stories.

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]

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