Fewer people are moving, but these are the states they’re moving to

With high home prices and rising interest rates plaguing the housing market in 2024, many homeowners opted to “lock in” on their homes. But those who decided to move went to states you might not have guessed — and for reasons you might not expect.

Leading national moving company Atlas Of Lines conducted two surveys to analyze trends in interstate travel in 2024 Research into migration patterns from 2024 directly measured moving trends between November 1, 2023 and October 31, 2024. Atlas compiled this data by analyzing the total number of moving shipments in an area. In ‘outgoing states’ more people left, while in ‘incoming states’ more residents entered. In ‘balanced states’ the number of people entering and exiting was relatively equal.

The second survey, conducted in August, involved 1,135 people who had moved in the past three years to gauge their reasons for migrating.

“In recent years, the Migration Patterns Study told us where Atlas customers were moving, but not necessarily why,” Ryan McConnell, president and chief operating officer of Atlas Van Lines, said in the report. “The 2024 Atlas study and survey data provide insight into why some people moved where they were going – or where they weren’t moving.”

This year’s analysis shows the lowest number of outbound states in five years – a likely impact of the lock-in effect on mortgage rates. Only five states made the outgoing list this year: Louisiana, California, Illinois, South Dakota and New York.

California is a somewhat well-known source of residents fleeing to avoid the high cost of living. A report released by StorageCafe found in November that California residents were migrating to Arizona to find lower housing costs. But Atlas said California had been classified as a balanced state in recent years, which marked an unusual change this year.

“[California’s] The return to the outgoing list, when so many other states are in balance, is remarkable,” Atlas said. Meanwhile, Illinois and New York – two of the three most expensive states – have consistently appeared on the outgoing list over the past five years.

The incoming states far outnumbered their outgoing counterparts. Atlas found that Arkansas, Rhode Island and North Carolina were the highest-ranked states for inbound movers in 2024. About 65% of all shipments to Arkansas were inbound. The survey also found that North Carolina has consistently been on the outgoing list for more than a decade.

According to Redfinthe average sales price for homes in Arkansas, Rhode Island and North Carolina is $259,200, $519,700 And $375,800respectively. Arkansas is well below the US average sales price of $434,720. Strangely enough, low prices were not the main motivation for the incoming residents. According to Atlas, only 10% of respondents say they moved for affordability reasons.

Employment was cited as the top reason for moving to states with high inbound traffic. About a third of movers moved to find new work. Atlas attributes this to changing workplace demands, particularly “the increasing mandates from companies requiring employees to return to the office full-time.” For example, Arkansas is home to Walmarta franchise that recently enforced a return-to-office mandate for corporate employees.

About 25% of respondents moved to be closer to family and friends. And another third mentioned motivations such as the weather, safety or retirement.