Many Californians Are Heading South

It's Viva Las Vegas for many outgoing coastal Californians seeking a new home. New Trulia data found that Sin City attracted the most Golden State emigrants in the first quarter of 2017.

Vegas offers lower median listing prices than, say, San Francisco or Los Angeles, ($260,000 versus $720,000) as do Houston and Phoenix, which were other popular destinations for moving Californians. Trulia senior economist Cheryl Young writes that Miami and Tuscon, Ariz. are popular destinations among retirees and moving coastal Californians, and also have lower housing costs than does California, reports MarketWatch.

All of the cities that have caught Californians’ attention should prepare for a deluge. Between 2006 and 2016, more than a million more people moved out of California than moved into the state, according to a recent report from Next 10 and Beacon Economics. And with the state expected to be me 3 million homes short of demand by 2025, this trend may only increase in the years ahead.

PB Topical Ref

Market Data + Trends

features