Don’t be surprised if your next new neighbor is from California. When people leave the costliest metro areas in the Golden State, Phoenix is one of their most likely destinations, according to a new analysis from Trulia.
And it’s no wonder. In San Francisco, San Jose, Los Angeles and San Diego, the average price of homes on the market in March was $720,000, compared to the average in Phoenix of $279,000. Phoenix is also a popular destination for job-hunters, another recent study found. Yet another analysis shows NoPho—the I-17 corridor from Norterra to New River—is among the most desirable neighborhoods in Phoenix.
Meanwhile, prices have continued to rise—in the West, nationally, and in NoPho, the I-17 corridor from Norterra to New River. Nationwide, home prices are up about 6 percent the past year. The chart below, from Trulia, shows Phoenix is the 3rd most popular destination for those moving from the pricey California coastal cities.
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