Student Corner: Where are people considering moving to and from?

<p>One important economic development metric practitioners study is interstate residential migration. While there are several indicators practitioners used to project national migration trends this post will focus on two tools that look at migration patterns for residents across the United States. Understanding where residents are moving and why is an important element in attracting new residents to North Carolina. This post will compare federal survey data with new tools produced by Redfin to see where migration patterns are currently trending, and where homebuyers are considering for relocation.</p> <p>Long touted for its relatively low cost of housing, a strong economy, and temperate climate, North Carolina has seen strong growth for several decades. From 2000 to 2016 North Carolina ranked eighth in the nation for population percentage growth adding 1.9 million residents in that sixteen-year period.</p> <p>Based on 2016 American Community Survey (ACS 5-Year) Data, an estimated 84% of North Carolinians have lived in their house for a year or more, which tracks with the national average of 85%. 12% of NC residents have moved within the state which is also in line with national averages. The data indicates that only 3% of the out-of-state migration happening in the US is attributable to North Carolina. Other southern states including Florida (6%), Georgia (3%) and Virginia (4%) track comparable outmigration. North Carolina’s out-migration is counter balanced by its 3% annual in-migration rate. NC is gaining the most residents from Virginia (36,000), Florida (32,000), South Carolina (32,000), Georgia (25,000), and California (17,000).</p> <p>Redfin recently published a webtool which sorts user search data [...]</p>