Trends 2023: Where movers are going and what they want
Nearly half of movers are moving for “housing-related reasons” such as a transition from owning to renting. The South and West are popular destinations.
Editor's note: Since 2006, the Swanepoel Trends Report has provided in-depth research and analysis to help leaders understand the forces shaping residential real estate. This exclusive series of excerpts highlights each trend featured in the 2023 report.
Insightful Real Estate Data: Digging into big-picture data related to homeownership can give real estate professionals a new perspective on the forces that shape the housing landscape.
Households that Move Each Year
The percent of households that move each year has fallen over the past decade, from 11.1 percent of households in 2011 to 8.5 percent in 2021. Most of the decrease is attributable to a steep decline in the mobility rate of renters.
Reasons for Moving
Nearly half of households moved for housing-related reasons, such as moving to a bigger or better home, looking for cheaper housing or making the transition to owning from renting.
Migration Patterns by Region
More people moved out of the Northeast and Midwest to other areas of the country than moved in, from 2011 to 2021. In contrast, the South and the West gained residents from other areas while also attracting a larger number of new residents from abroad over that period.
The South and the West have experienced higher net migration levels than either the Northeast or the Midwest nearly every year for the past decade.
Digital and printed copies of the 2023 Swanepoel Trends Report are available for purchase at t3trends.com.