New Jersey, New York, Illinois, Connecticut and California topped the states with the most number of people moving out of them.
States showing inbound movement included Florida and South Carolina.
COVID-19 became the big trigger causing many people to move in 2020. Many people moved to locations which had considerably lower population densities and lower taxes.
As of 2019, the US Census Bureau estimated that New York saw a decrease of nearly 77,000 residents, putting New York State in the #1 spot for loss of residents for 2018 and for 2019.
Reasons for the moves included high cost of living, climate, job opportunities and now the pandemic.
According northjersey.com, in the last decade, New York lost 1.4 million people to domestic migration. New Jersey followed as did California, reporting a loss of 491,000.
Back in September, according to Bloomberg News, the New York State population saw that 67% of all long-distance moves were made by people leaving New York. New Jersey and Connecticut also experienced net losses of people migrating out of their states.
It’s not just about the weather: Vermont and Idaho reported reverse migration patterns with only 25% of the people moving leaving the state, while 75% were moving in. Idaho saw only 33% of the people moving out and Oregon reported only 37% of those moving going out of state.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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