Pandemic boomtowns like Phoenix now have highest inflation rates

By World Property Journal

According to Redfin, the four U.S. metropolitan areas with the highest inflation rates in the third quarter are Covid migration hotspots.

Phoenix, Atlanta, Tampa and Miami experienced double-digit inflation and all ranked near the top of Redfin’s list of most popular destinations for relocating homebuyers.

In Phoenix, the price of goods and services rose 13% year over year on average, the highest inflation rate among the metros for which the U.S. Bureau of Labor Statistics (BLS) provides inflation data. Phoenix was the sixth-most popular destination for Redfin.com users looking to move from one metro to another in the third quarter.

Atlanta, the 15th most popular destination, had the second highest inflation rate, at 11.7%, and Tampa (10.9%) clocked in at number three for inflation and number five for migration. Miami had the fourth highest inflation rate (10.7%) and was the second most popular migration destination.

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