Typically Silicon Valley is an outlier in national real estate trends, but in speaking with colleagues in Austin, San Diego, Nashville, Durham, etc we’re hearing of low-inventory conditions, fast moving markets and multiple offer situations in those markets as well. While they certainly mention people from the Bay Area/California coming in with all-cash offers, we thought we’d share some insights on migration from the latest census data.
We have listed homes for clients who have chosen to move out of state based on a pandemic related reason - their companies’ flexible of work-from-anywhere policies or simply a desire for a different pace of life. However, our experience is there are still more than enough buyers to backfill those departures. Companies are still recruiting and relocating new hires to the area, as we are getting increased in-bound for buyers new to the area.
