Local Moves Keep Declining

Americans apparently have settled in for the long haul. An analysis of Census Bureau data show that the share of people moving to a new home was 8.7% in 2022, the Hill reports, after holding around 20% from the late 1940s through the 1980s. William Frey, senior demographer at the Brookings Institution, told Axios a series of trends seems to be responsible for the long-term change, including:

• The US population is aging. Older people, who could have their mortgage paid off, are less likely to move.
• Younger people are living with their parents longer and marrying and having children later.

• Single-earner households are less common than they were, and it's tougher to find two or more jobs in a new place.
• Remote work is more common, so many workers don't need to move for a new job.
• High housing prices make moving up more difficult.

Frey said long-distance moves ticked up a bit, to about 1.5%, after falling for four years, while moves in the same county dropped to less than 5% for 2021-22. The Brookings research can be found here. (More moving stories.)