San Francisco is experiencing a decline in urban flight as more residents opt to buy locally rather than seek homes outside the city. Listing views for homes outside the city have dropped from 68.9% to 62.9% over six years. Despite high living costs and increasing home prices, locals are responding to affordability issues in neighboring cities like San Jose, which has even higher median list prices. The median house price in San Francisco reached $998,500, reflecting a 4% increase from six years prior, while unemployment rose from 2.3% to 3.9%.
In June, the median list price in San Francisco reached $998,500, which represents a 4% increase from the same period six years ago.
Despite the high cost of living and soaring home prices, more locals in San Francisco are staying and looking to buy homes, driven by affordability concerns in neighboring metros.
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