What factors made last year a record-low year for people moving?
Today I want to talk about migration patterns and how the pandemic has affected them.
27 million Americans moved in 2021. That’s 8.4% of the population. While that seems like a really high number, it was actually a 73-year low. In comparison, 9.3% of the population moved in 2020. The highest recorded year was 1984, when almost 20% of the population moved. We did see an uptick in people crossing state lines last year. 4.3 million out of those 27 million moved across state lines.
One of the main reasons for this 73-year low is the widespread ability to telecommute. Major life events always play a role in moving. Many people put weddings and having kids on hold due to the pandemic, and that also played a role. We expect 2022 and 2023 to be a reverse of this trend and that between 10% and 11% of the population will be moving.
If you have any questions, don’t hesitate to reach out to me by phone or email. I look forward to hearing from you.