San Francisco has ocean beaches and cool summer weather, but it also has sky-high real estate prices – and that may be why a big percentage of the city’s residents are searching for homes on Zillow in Sacramento.
About 50 percent of people who reside in San Francisco are looking at homes on Zillow, with about 12 percent examining homes in the Sacramento region.
“We look at home searches to get a read on people’s housing aspirations and how they feel about housing and quality of life in their city, as well as their actual intentions to move into or out of a given area,” said Svenja Gudell, Zillow’s chief economist. “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.”
When the Zillow number crunchers looked at who was looking at Sacramento homes, it turned out that 11.7 percent of those surfing properties in the area were in San Francisco. Others taking a peek at the Sacramento market:
▪ 8.8 percent of the Zillow page views from Chico are for Sacramento.
▪ 8.6 percent of Reno’s page views are for Sacramento
▪ 4.1 percent of Eureka’s page views are for Sacramento
▪ 4 percent of Fresno’s page views are for Sacramento
The numbers come from Zillow page-view data on houses for sale and unlisted homes in June 2016. Generally, when people look to move, they search in adjacent metropolitan areas or neighboring states, the real estate search site noted.
Zillow examined markets that received the most traffic nationwide from other cities per home listing. Sacramento was No. 2 on the list after controlling for volume of listings:
▪ Palm Springs
▪ San Diego
▪ Portland, Ore.
▪ San Francisco
▪ Jacksonville, Fla.
▪ Austin, Texas
California markets dominate the list because homebuyers are most likely to look for homes nearby. Since the state has the highest population in the nation, California markets get more page views.