HousingWireHousingWire
The COVID-19 pandemic set off a wave of migration that temporarily depressed coastal housing markets and caused others to explode. But almost five years after the pandemic began, new trends are emerging that may surprise you.
That’s according to an annual study from United Van Lines that surveys movers on where they’re coming from, where they’re going and why. The top destination — West Virginia — isn’t usually thought of as a hotspot.
Of the people who moved to or from the state, more than 65% were inbound. And of the six reasons for moving — retirement, health, family, lifestyle, job and cost — 34.6% of people moving into West Virginia cited family and 30.8% cited a job. Among those who left the state, retirement and jobs were mentioned by nearly half of respondents.
Since the pandemic, West Virginia’s population inflow has consistently bested its outflow, but prior to the pandemic, inflow and outflow were about 50/50.
West Virginia follows a trend of Southeastern states that have become more attractive to movers, as five of the top 10 inbound states are in this region. Delaware, South Carolina, the District of Columbia and North Carolina round out the top five. Alabama, Rhode Island, Oregon, Arkansas and Arizona complete the top 10.
The inflows to Southeastern states have continued a post-pandemic trend that was either faint or nonexistent prior to 2020.
The states experiencing more population outflow than inflow also follow post-pandemic trends. The top state for population outflow is New Jersey, while neighboring New York is No. 3. But it’s worth noting that the top reason given by movers for leaving is to be near family.
It’s also worth examining to what extent outflow in these two states are related to the pandemic. United Van Lines data from pre-pandemic years looks similar, suggesting that the “flight to the suburbs” and an exodus from big cities were narratives that weren’t really new trends.
Illinois, California and Massachusetts rounded out the top five states for population outflows. People leaving Illinois cited retirement as the top reason, while those leaving Massachusetts and California cited family and jobs, respectively.
People moving to West Virginia are likely overjoyed with the condition of its housing market. According to data from Altos Research, the median home price in the state is about $240,000, although that’s up from $160,000 at the start of 2021.
Inbound migration doesn’t appear to be depleting housing inventory. While supply is down considerably compared to the start of the pandemic, available single-family homes for sale in West Virginia have swung between 2,000 and 2,800 on the basis of seasonality.
The other four Southeastern states in the top 10 follow similar patterns — modest but still affordable housing with a post-pandemic decline in inventory.
