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The number of Americans moving just crashed to an all-time low in 2021. Only 27 million people, or 8% of the US population, moved into new homes and apartments over the last year. That’s less than half the levels of 20-30 years ago.
Could this lack of people moving mean that the US Housing Market is in a massive Housing Bubble in 2021? That could turn into a Housing Crash in 2022?
This data flies in the face of the conventional Housing Market Forecast and Narrative, which suggests that more Americans than ever are moving, especially to hot Sun Belt housing markets such as Tampa, Austin, Dallas, and Phoenix.
This data from the US Census Bureau suggests that only 253k net domestic movers bought a house or rented a new apartment in the South. That’s actually BELOW the long-term average.
Despite this stabilization, or reduction, in moving to the South, Home Prices and Rents are escalating wildly. Home prices in the Austin Real Estate Market are up 45% YoY, while they’re up by 35% in Phoenix’s Housing market and 30% in Tampa. Many people thought these price increases were the result of more people moving to states like Texas, Florida, and Arizona.
But this data suggests otherwise. Meaning that it might be Real Estate Investors who are coming in and fueling the housing market expansion in many of these areas. This theory is consistent with data from Redfin that suggests Housing Markets like Miami, Phoenix, and Atlanta have the highest levels of investor demand (nearly 30% of all homes purchased by LLC/Corp).
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0:00 UH-OH! All Time Low in 2021!
0:53 Why Do Americans Buy Homes?
1:40 Except There’s One Problem…
2:31 Record Low 8% of Population Moved
3:48 Types of Moves: Same County v Diff State
4:38 1.4% of Population Changed States in 2021
5:16 Texas, Florida, Nevada, Arizona: Ask Yourself This!
6:18 Moving South? Tracking Domestic Migration
7:26 Wrap Your Head Around THIS!
8:29 Investors Taking over the US Housing Market
9:31 65% of Americans Say “BAD TIME TO BUY”
10:011 Check This Out!
#AmericansMoving #HousingCrash