California Housing Is Becoming More Affordable—Relatively, Anyway
You Still Get More House for Your Money in Austin or Boise Than L.A. or San Francisco, But the Difference Is Dwindling
California housing prices have soared during the pandemic. The California Association of Realtors reports that the median selling price of a single-family house here increased 11 percent, to $796,000, between December 2020 and December 2021.
Skyrocketing home prices and their impact on affordability are often cited as reasons for net domestic migration out of California. In the early 1960s around 250,000 Americans moved to California each year. In 2020 close to the same number left. Is this the beginning of a mass exodus from the Golden State or a more temporary …