Are You Willing To Invest To These TOP 10 HOUSING MARKETS in 2021?
Updated: Feb 26, 2021
This long-awaited national survey that United van lines puts out every year tells you where you should. And shouldn't put your real estate investments in 2021. We're going to check it out. Hey everybody, Jared Jones, broker-owner of Jones group real estate. And today we're going to delve into the data provides by United van lines. Now you might've seen those massive moving trucks. They're a national van line that does interstate moving all over the US and they do a national survey, which they've done for 44 years, which is absolutely important data for sharing the migration patterns of people throughout the US we're going to look specifically at what they just produced for the year 2020. Let's get started, you know, the study, which tracks the company's exclusive data for customers' 2020 state migration patterns. Idaho was the state with the highest percentage of inbound migration among the States who experienced at least 250 moves to qualify to be in this report.
Topping the list of outbound locations was New Jersey. 70% of all moves for New Jersey were folks leaving the area. And this has been a trend for the last three years. Now, let's talk about where the largest exoduses are taking place aside from New Jersey that we just pointed out. The next few States would be South Carolina, 64% followed by Oregon, South Dakota, Arizona, New York, Illinois, Connecticut, and California. Probably not a lot of surprises on this list. You've got a lot of large cities. Uh, Chicago is obviously a mass migration. So Illinois makes lists. California has become such a premium popular lately with political situations and high taxation. And so you're just seeing cash leave. These areas. New York is another. Then this probably represents areas where there's a lot of buying opportunity, great deals to be had. If you want to take the risk of putting your money in those locations.
Now, United van lines also conduct a survey, examine the reasons behind American migration patterns. And I'm going to share with you some specific ones that affected Florida and why people moved in and out of this location and our market this year. But the survey results overall that 40% of Americans who moved did so for a job transfer. And this is down from prior years, this doesn't surprise me at all. Because another survey I saw shows that 90% of people that we're moving, we're moving in the same County. So not a lot of people are moving out of the area. So that doesn't surprise me at all. And more than one in four 27% of folks moved to be closer to family, which is significantly up over prior years now, data from March to October 2020, revealed that the COVID pandemic influenced American's decision to move for those selected this.
As a reason, the top reason is associated where the concern for the family's wellbeing, their own personal wellbeing desires to be closer to family. Again, moving changes due to employment or work. Probably the fact that they have the ability to work remotely, allowed them to move somewhere else or desiring a lifestyle change. Now listen to this for retirement, Montana and Delaware experienced more inbound moves than any other state at 41% followed by Florida, 39%, South Carolina and Minnesota also made that list throughout the pandemic major metropolitan areas, such as New York, Newark, Chicago Wilmington, North Carolina, and Boise, Idaho all saw very high levels of outbound moving. Let's talk about where the move-ins are happening. Where's the money going? Where's all the new revenue. Well, there are the top 10 most popular places in the market. These are going to be places where if you're a seller you're winning big.
If you're a buyer you're struggling to get a house under contract, these markets are hot. Number one, Idaho, number two, South Carolina, number three, Oregon, number four, South Dakota, number five, Arizona, six, North Carolina, seven Tennessee, Alabama, Florida, and Arkansas. Now you'll notice that some of those names were some of the names that were on the other list. So there are obviously some certain areas like Oregon. That's actually got a lot of inbound and outbound demographic trading going on. Let's talk about the number of reasons people moved into Florida this year. Well, the number one reason was retirement. Number two was their job. And number three was a lifestyle. The top three reasons people moved away from Florida. Number one was to be closer to family. Number two was a job transfer and number three was retirement. So, so there's a small segment of people that actually moved away, uh, due to retirement.
The majority share of people that moved out of Florida was 65 or older. The majority share of people that moved into Florida was also the same age. Now here's a key and interesting metric. When you talk about how expensive could Florida homes get. Well, that depends on how much money is in the pockets of the people that move in. Listen to this. Nearly half of all the people that moved into Florida this last year had an income higher than $150,000. The second graph down 26% of people made between a hundred and 150,000 of the inbound metrics that were measured. Now this could be the type of mover, right? United van lines are doing the track here. So maybe not everybody has $20,000 to spend on their move. And there are people that don't graph, but this is just what they're providing for us. And what it's telling us is that the majority share of the folks coming in on the upper end of the bracket as far as is concerned, the same thing with those that left the marketplace. Super interesting. Super interesting. Thanks for watching. Please give our video a thumbs up, give it a share to someone, you know, and if there's anything we can do to help you please reach out buying or selling a home in central Florida is expensive.
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