Morning Briefing: San Francisco among most searched city but residents want to leave

by Steve Randall12 Sep 2016
San Francisco among most searched city but residents want to leave
San Francisco is among the most often searched housing markets on Zillow but the data shows that many in the metro are keen to move out.

The study shows that a listing in San Francisco is more likely to be searched from outside the area than 92 per cent of other markets. However, half of the home searches conducted in the San Francisco market are for outside the area.

"If someone lives in an expensive area, they may look for another place to live that is less expensive but offers a similar quality of life. Home shoppers in less expensive markets may weigh sacrificing space or cost in favor of a better job in a more expensive locale. Home search trends, in time, translate into actual moves and migration, which will have a lasting impact on the economy and landscape," said Zillow Chief Economist Dr. Svenja Gudell.

Austin, TX is another market where locals appear keen to move along with New Orleans, Miami and Detroit.

Those in Portland, Seattle and Jacksonville top the rankings of markets where there are few outward-looking searches but high percentages of inward inquiries.
Trump’s childhood home to be auctioned
He could soon be living in America’s most famous home but Donald Trump’s childhood home is about to go under the hammer.

The single-family detached home in New York’s Queens was listed two months ago at $1.65 million but has been discounted a number of times since with the most recent price of $1.39 million according to Mansion Global.

It now appears that the 5-bed, 4.5-bath house will be auctioned next month by the New York restaurateurs who own it but are selling due to divorce.

In a statement the couple said: “We are choosing to auction the property because we don’t know what it’s worth.”

They are hoping that the Trump connection will pique interest in the home and have a positive effect on its selling price.
Best housing markets for families revealed
Families looking to move to a city which offers them the best lifestyle should consider Overland Park in Kansas.

The metro is revealed at the top city for families based on metrics such as cost of housing; quality of schools and healthcare; and recreational facilities.

The top ten markets also include: Madison, WI; Plano, TX; Sioux Falls, SD; Virginia Beach, VA; Lincoln, NE; Aurora, IL; Omaha, NE; Colorado Springs, CO; and Freemont, CA.

The study by WalletHub found that Aurora, Illinois has the most families with children while Fort Lauderdale, FL has the fewest. Overland Park, KS has the lowest percentage of families below the poverty level while California’s San Bernardino has the highest.


  • by | 9/12/2016 9:07:48 AM

    Austin Texas is arguably the fastest growing city in the country, supported by high tech growth, new jobs, and more than 100 people PER DAY moving into the area. Available inventory of homes is less than 2.5 months of inventory. I don't think these numbers support a conclusion that Austin Texas is a place where people are wanting to move out of the area. On the other hand, there is always a migration around Austin from city life to suburban life. The difference in Austin may be going from a 25 min commute to downtown to a 40-50 min commute to downtown. But unlike many cities on the West Coast, jobs in Austin are not centralized in one area. High Tech Jobs in particular in Austin extend from down south, to the West side to the northern corridor and almost to the edge of Cedar Park (suburban Austin, Round Rock MSA). And Round Rock is home to both Dell Computers Corp and Sears Holdings, corp national call center, so many jobs flow into and out of Round Rock as a result of the ebb and flow of high tech, but I would not say, people in Austin are looking at leaving the Austin area. I think that is a mis-characterization of data.


Is TILA-RESPA a good or bad thing long term?