A significant drop in domestic migration was observed in top destinations like Texas, Florida, and North Carolina. States with historically high outmigration, such as New York and California, witnessed a reduction in residents leaving. The slowdown in migration is linked to the cooling housing market.
All of the top destinations — Texas, North Carolina, South Carolina and Florida — saw a significant drop in domestic migration for the year ending July 1, 2024. To track state-to-state migration trends, the U.S. Census Bureau used data from the American Community Survey and anonymized IRS address changes.Meanwhile, states that have consistently had a net loss of residents, such as New York and California, saw fewer people leaving — suggesting that fewer Americans are moving overall.
New York experienced a net loss of 176,893 residents for the year ending July 1, 2023 , which fell to 120,917 for the following year. California experienced a similar decline, with net losses dropping from 344,029 to 239,575 during the same periods.Here's a look at the states with the highest net influx of residents from other states between July 1, 2023 and July 1, 2024.Among these states, all except Nevada and Idaho experienced fewer incoming residents than the previous year. Notably, migration to Texas, Florida and Georgia was halved or more, compared with the previous year, highlighting a significant slowdown in these traditionally high-growth states.in 2021 and 2022, Florida has cooled down the most in the previous two years, with its influx dropping from 314,467 to 85,267 residents.The broader trend of decelerating migration across states is largely attributed to a slowdown in the housing market, driven by persistently high homeownership costs
Migration Housing Market Population Trends Real Estate US Census Bureau
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