The State of Moving Out

When it comes to updated lists of where consumers are moving to and from, you expect to find California on top of one of them. However, the latest list, courtesy of one of the national moving companies, shows California as the top state from which people are LEAVING. Keep in mind that this list is based on 2024 and was before the recent disastrous fires which destroyed several communities. The list was also compiled during the time that Florida experienced two hurricanes which brought significant damage to many of its cities.

 

California managed to "out move" Illinois, a (seemingly) perennial leader in people moving away due to higher and rising property taxes, crime, and challenging weather conditions. This data comes just as a new ordinance in Los Angeles County (which was in place to begin in January prior to the fire events) creates opportunities for ADUs (additional dwelling units) on residential properties to address the housing shortage.

 

Some real estate investors and professionals take a quick glance at these lists and move on. My thinking is to take this research as a "start" and drill down. It is important to determine (as best possible) and understand the reasons why consumers move out of a state and into another one. Being the "most chosen" state to move to by the most people tells me that it's not because of a single employment information.

 

Real estate professionals in "selling" states need to be aware that people are looking to escape just as they need to be aware of a tougher sell for the properties they are looking to move. Investors need to be on top of motivation, whether to sell and get the heck out of town or what relocation buyers are attracted to. These decisions also impact commercial properties. Cities in the Carolinas, Tennessee, Georgia, and Idaho may have a need for more commercial properties. That includes shopping, restaurants, entertainment, and so on. 

 

As I continue to stress to my clients and connections, planning ahead and having the right data to support your decisions is what makes the difference for long term planning. No matter what state you are in.

 

 

https://www.northamerican.com/migration-map