We have had several posts about where Americans are moving and in what numbers, but a recent article in the Wall Street Journal (and then posted on Realtor.com) examines new data that suggest fewer Americans are moving to seek job opportunities. According to data from the U.S. Census Bureau, 3.5 million people relocated for a new job in 2017. That number is 10% lower than in 2015 and continues to trend lower as the population actually increases.
“Experts cite a number of factors that in some periods have kept people in one place, including a depressed value for their home or limited job openings. In the current strong economy, real-estate values have rebounded, but that has made housing costs prohibitively high in some regions where jobs are abundant, such as major East and West Coast cities.”