Homebuyers are looking to relocate from two expensive California cities more than any other major metro in the U.S.
Piper Sandler chief investment strategist Michael Kantrowitz discusses the health of the U.S. economy and where the housing market heads as the Fed continues to raise rates on 'Mornings with Maria.'more than any other major metro in the U.S.
"Homebuyers typically leave expensive coastal job centers more than they leave other places, a trend that started before the pandemic and picked up steam due to remote work and rising housing costs. They most commonly head to more affordable regions. Sacramento, wherewhat they do in the Bay Area, is the most common destination for people [leaving] San Francisco, for instance," the report said.
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