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Population Drops Even More in California, San Francisco Bay Area, Coastal Southern California. San Francisco -8% from Peak! But 19 Inland Counties Grow

March 31, 2023

by Wolf Richter Wolf Street

Where is demand for homes supposed to come from when the population keeps dropping like this?

The Census Bureau released its Vintage 2022 population estimates today. I’m going to focus on California, especially the big population centers in Southern California and the San Francisco Bay Area. The big coastal counties lost population, some of them a lot of population. Some inland counties gained population, but not enough, and the State overall lost population.

I’m going to look at this with an eye on the housing market because these shifts are already having an impact, with the San Francisco Bay Area being one of the worst housing markets in the country with some of the steepest price declines, and with home prices in coastal southern California also getting hit.