Where are people moving to? The South, still… We know this, thanks to new data from the U.S. Census Bureau tracking migration patterns nationwide.
I love this data because where people move to gives us a sense of what they value (weather, taxes, affordability, job market, etc). It also highlights areas with more resilient housing demand and emerging cities and trends. From the latest release:
-Jacksonville held its #1 spot for the third year in a row. I was in Jax two weeks ago and there are a lot of things to love—relative affordability, coastal access, and plenty to do. From a housing POV, the market traditionally saw 2.0 sales per month per community, per Zonda data. Sales rates jumped to 4.5 during the height of the market but appear to have stabilized at 2.5.
-Hello Carolinas! Raleigh moved up from #5 to #2 and Charlotte from #4 to #3—the highest ranking for both metros in 5+ years.
The Carolinas offer a great middle-ground for those moving between the North and South. For example, my mom moved from Washington, DC to Raleigh 10 years ago and has never looked back. Others find places like the Carolinas, Georgia, and Virginia attractive alternatives to Florida.
-Speaking of Virginia, Richmond landed the #7 spot, the first top 10 ranking in 5+ years for the state capital. This hits home for me as my dad and stepmom just moved from Jax to Richmond last month.
-Texas represented 20% of the top list with San Antonio and Austin. For all the bad press coverage Austin has gotten in recent years, the market is still a migration hotspot, especially for younger folks.
-Tulsa had consistently been in the top 15. While Tulsa’s jump initially surprised me, my coworker Sarah Bonnarens found that the market has been in the top 15 for the past 5 years. This year, it finally broke into the top 10.
-The power of low taxes, relative affordability, and a diversifying economy: Las Vegas returned to the top 10 list for the first time since 2019.
Shaun McCutcheon Sean Fergus Trevor Tetzlaff Susan Heffron Tim Sullivan Bryan Glasshagel CiAnn Blue Keith Hughes Evan F. Adam McAbee
#migration #census #housing
