These 10 states are still popular among Americans, but the number of visitors has decreased.

According to new U.S. Census data, while Americans are still moving to Sun Belt states, the pace of migration has slowed down significantly compared to previous years.

The U.S. Census Bureau used data from the American Community Survey and anonymized IRS address changes to track state-to-state migration trends and found that all of the top destinations, including Texas, North Carolina, South Carolina, and Florida, experienced a significant drop in domestic migration for the year ending July 1, 2024.

Fewer Americans are moving overall, as states that have consistently had a net loss of residents, such as New York and California, saw fewer people leaving.

In 2023, New York lost 176,893 residents, while California lost 344,029 residents. The following year, New York's net loss decreased to 120,917 residents, while California's net loss decreased to 239,575 residents.

Which states experienced the highest net influx of residents from other states between July 1, 2023 and July 1, 2024?

1. Texas: 85,267
2. North Carolina: 82,288
3. South Carolina: 68,043
4. Florida: 64,017
5. Tennessee: 48,476
6. Arizona: 34,902
7. Alabama: 26,028
8. Georgia: 25,321
9. Nevada: 16,853
10. Idaho: 16,383
11. Oklahoma: 14,036

In contrast to Nevada and Idaho, all other states experienced a decline in incoming residents compared to the previous year. Specifically, migration to Texas, Florida, and Georgia was cut in half or more, indicating a marked decrease in these traditionally fast-growing states.

In 2021 and 2022, Florida was a real estate hotspot, but its influx decreased significantly from 314,467 to 85,267 residents.

Why people are moving less

The slowdown in the housing market is the primary reason for the broader trend of decreasing migration across states, as homeownership costs remain persistently high.

High 30-year mortgage rates, which stayed above 6% for the past year, have deterred both buyers and sellers.

As a result of the "lock-in effect," homeowners with lower rates are hesitant to sell their properties, which has led to a decrease in inventory. This, in turn, has caused renters to move less frequently.

Since the 1980s, the number of people moving has been declining due to factors such as an aging population, delayed milestones like marriage, and home prices that have grown twice as much as incomes.

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