Local Real Estate News

From your local Sacramento neighborhood expert, Carlos Montoya

Bay Area residents are searching like crazy for houses in Sacramento, says Redfin

 

 

Another day, another indication of how much the Bay Area may change the landscape of Sacramento.

Real estate listing firm Redfin reported this week that 4,101 more users of its service looked to buy a home in Sacramento than Sacramentans looked to buy homes elsewhere in the last three months of 2017 – the largest potential net inflow of new residents to any region in the United States. The top region of origin for those planning to move here was the San Francisco Bay Area, according to the website’s analysis of its data.

The San Francisco region led the nation for people wanting to leave, with more than 15,000 thinking about relocating between October and the end of the year. The top destination for those refugees? Sacramento.

Other top destinations for people relocating within the United States included Phoenix and Las Vegas.

These numbers are the latest evidence that Sacramento’s growing population is being driven by people fleeing the more expensive coastal regions of California.

Estimates from the California Department of Finance released earlier this year showed that 8,500 more people came to the Sacramento region from elsewhere in the country than left during the 2017 fiscal year. That was the highest number since the peak of the housing boom in 2005.

Meanwhile, roughly 105,000 more people left California for other states than moved here, meaning Sacramento is bucking a statewide trend.

Census figures showed that Los Angeles, Alameda and Santa Clara were the top counties of origin for people moving here in 2016.

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