Millennials are fleeing these 10 American cities because of high home prices

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Most millennials want to own homes, but they'll likely be driven to the suburbs because of high home prices in cities.

This was confirmed again in a survey of the 19-35-year-old age group conducted by Bank of America Merrill Lynch.

It found that 66% of millennials rated homeownership either as "very important" (40%) or "important" (26%).

In a primer on millennials and centennials published last week, Equity Strategist Sarbjit Nahal said the survey showed that the share of millennials who said home buying was "very important" slipped from a year ago.

Nahal wrote: "The most common reasons cited by Millennial respondents for not buying a home were: 1) I am not at the right point in my life and 2) I don't make enough money to afford a home. Younger Millennials (20-24Y) were more inclined to point to their current stage of life, while older Millennials (30-34Y) appear to be emotionally prepared to be homeowners, but lack the financial resources to do so."

Because there is demand for housing from people looking to upgrade, and b, prices in major metros have surged.

BAML included this chart from Trulia, which shows the highest move-away rate relative to expectations among millennials.

Screen Shot 2016 09 07 at 11.36.53 AMBAML's survey also confirmed that millennials have reached "peak urban" living. Fifty three percent of respondents who currently live in the suburbs said they'd stay put.

See the 10 U.S. cities at greatest risk of housing bubble below:

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10 US cities at risk of a housing bubble
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10 US cities at risk of a housing bubble

#10: Portland, Oregon

Median list price: $428,600
Bubble index compared with 2001: +6%
Bubble index compared with market peak: -26%

Photo credit: Getty

#9: Charleston, South Carolina 

Median list price: $322,300
Bubble index compared with 2001: +7%
Bubble index compared with market peak: -20%

Photo credit: Getty

#8: Buffalo, New York

Median list price: $159,900
Bubble index compared with 2001: +7%
Bubble index compared with market peak: -1%

Photo credit: Getty

#7: Fresno, California

Median list price: $272,100
Bubble index compared with 2001: +9%
Bubble index compared with market peak: -31%

Photo credit: Getty

#6: Los Angeles, California

Median list price: $690,000
Bubble index compared with 2001: +10%
Bubble index compared with market peak: -35%

Photo credit: Shutterstock

#5: Dallas, Texas

Median list price: $335,000
Bubble index compared with 2001: +13%
Bubble index compared with market peak: -2%

Photo credit: Getty

#4: Salt Lake City, Utah

Median list price: $347,200
Bubble index compared with 2001: +14%
Bubble index compared with market peak: -20%

Photo credit: Getty

#3: Austin, Texas

Median list price: $400,000
Bubble index compared with 2001: +17%
Bubble index compared with market peak: -1%

Photo credit: Getty

#2: San Francisco, California 

Median list price: $855,000
Bubble index compared with 2001: +19%
Bubble index compared with market peak: -26%

Photo credit: Getty

#1: San Jose, California 

Median list price: $981,500
Bubble index compared with 2001: +19%
Bubble index compared with market peak: -18%

Photo credit: Getty

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