Report shows link between an area’s popularity, inflation
July 20, 2022 - According to a report released Tuesday from Redfin, the U.S. cities with the largest influx of new residents during the pandemic now have the highest rates of inflation. Four metro areas experienced double-digit year-over-year inflation hikes in the second quarter of 2022 - Phoenix (11.3%), Atlanta (10.9%), Tampa Bay (10.6%) and Miami (10%). All four were also among the most popular for relocation by Redfin users, with Miami and Tampa Bay leading the pack. Conversely, cities with a significant outflow of residents during the pandemic have comparatively low levels of inflation. San Francisco was the lowest at 5.6%, followed by New York at 5.9%.