[quote=EconProf][quote=sdrealtor]Wonder what’s going on in St George beyond 100 degree weather?[/quote]
Answer: still flocking here in big numbers, esp. from CA.
About that weather, two factoids. We are higher in elevation than Phoenix and Las Vegas–both at about sea level–so are a bit cooler. And we have a big temperature swing between the day’s high and low. So people jog and bike ride in a.m., not mid-afternoon. Secondly, the hotter temperatures in those two big cities does not seem to be deterring Californians from moving in big numbers to those cities. Gosh, I wonder why that is?[/quote]
Big numbers? ROTFLMAO! St George is the same size as Oceanside. Demand in Vegas and Phoenix is falling much faster than here you just havent seen the numbers yet.
Here is some data
Inventory Y-o-Y through May in a few of the markets Californianians are alegedly fleeing to
SD -12%
Santa Clara +12%
Vegas +71%
Phoenix +101%
Austin +140%
Nashville +44%
Inventory M-o-M through May in a few of the markets Californianians are alegedly fleeing to
SD +9.5%%
Santa Clara +31%
Vegas +48%
Phoenix +62%
Austin +51%
Nashville +44%
Current Inventory at end of May with population in parentheses
SD 3200 (3.3M)
Santa Clara 1658 (1.9M)
Vegas 4367 (2.8M)
Phoenix 10508 (4.6M)
Austin 4173 (1M)
Nashville 4539 (1.3M)
So comparatively
Vegas about 33% more inventory despite over 15% smaller population
Phoenix almost 250% more inventory despite only 33% bigger population
Austin 30% more inventory with less than 1/3 the population of SD
Nashville 40% more inventory with about 1/3 the population
