DS News

DSN_March2023

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

Issue link: http://digital.dsnews.com/i/1494597

Contents of this Issue

Navigation

Page 10 of 83

2022 NAMED BUSIEST MOVING YEAR OVER THE LAST DECADE For the first time in a decade, the total number of Americans who moved grew from one year to the next, according to a study from HireAHelper's fifth annual U.S. migration study. is year's migration study reveals nation- wide migration trends for 2022, such as the increase (+4%) in the total number of moves nationally. It's the first time in a decade that the number has increased year over year. Americans are moving further than in years prior, as the share of cross-country moves is at a record high of 24%, while average moving distance in 2022 was 74 miles, up 44% compared to last 2021. Key Findings: • Some 4% more people moved during 2022 in the U.S. compared to 2021, the first time in a decade moving volume has grown year over year. • Vermont had the greatest growth of move-ins by ratio of all 50 states (+138%). • New Jersey saw 41.2% more people leave the state versus move in. • e Villages, Florida, topped city growth by ratio for the second year in a row (+348%). • Two Bay Area Cities had the greatest net outflow: San Jose, California (-74%), and Oakland, California (-58%). According to the latest estimates from the U.S. Census Bureau's Current Population Survey, 27.3 million Americans (8.6% of the population) moved in 2022, which is roughly 4% more than moved in 2021. "It's been a year filled with big changes, and the latest U.S. moving data reflects this narrative with more people relocating—and moving longer distances," said Miranda Marquit, Chief Data Analyst at HireAHelper. "People are adjusting to economic or social circumstances, while others are shifting their career or lifestyle. Americans seem to be at an inflection point with many moving in response to adjusting to the post-pandemic era." For the second consecutive year, e Villages, the age-restricted community in Sumter County, Florida, saw the largest net gain among U.S. cit- ies; it had three times more people move in than out (+348%). State-wise, Vermont had 138% more people move in than out—the highest net gain of residents in all 50 states. Based on the statistics from the U.S. Census Bureau, most of the common reasons for moving in 2022 weren't all that different from a typical year. Once again, "New and better housing" (14%), "Establishing own household" (11%), and "New job or transfer" (9.2%), were some of the most common stated reasons for moving last year. e study also provides insight on the lack of affordable housing in the United States, as approximately 15% of moves were motivated by cost of living and inflation, while 56% more people moved due to foreclosure or eviction in 2022 than the year before. Journal 9

Articles in this issue

Archives of this issue

view archives of DS News - DSN_March2023