S
an Francisco appears to be turning a corner after years of urban flight, with fewer residents now looking to leave. According to a report from Realtor.com, only 62.9% of listing views in spring 2025 went to homes outside the city, down from 68.9% six years ago.

    Economist Jiayi Xu studied online shopping traffic and found that San Francisco is an exception to the trend of more than half of online shoppers looking at homes outside their current metro areas. Despite its high cost of living, skyrocketing home prices, and elevated unemployment rates, the city has managed to win over locals.

    The median list price in San Francisco reached $998,500 in June, up 4% from six years ago, but still lower than some neighboring metros like San Jose, which has a median list price of $1,398,000. This makes San Francisco relatively more affordable by comparison.

    Xu attributes the city's growing appeal to its urban improvement plan, marked by lower crime rates and cleaner streets. Mayor Daniel Lurie's efforts to tackle homelessness and crime have shown early signs of progress, including a drop in crime and street encampments.

    The AI boom is also being credited with drawing tech workers back to San Francisco, with Nvidia CEO Jensen Huang saying that the city is "thriving again" due to AI. Six other metros saw a similar trend, including Portland, OR, which topped the list with just 57.9% of listing views going to homes in other areas.

    "These markets generally share traits like relative affordability, diverse job opportunities, stable employment, and easy access to nature and outdoor amenities," notes Xu.