Home Economics
And where are former residents moving to?
ByAngela CabotajeOctober 28, 2022
Depending on who you are, you either love Seattle or you hate it (or both). In Before Times, your general sentiment about a place might be the reason why you choose to move to a different state, orwhy you came here in the first place. The pandemic, of course, changed a lot of things, with former Washingtonians seeking space, cheaper living costs, and more flexible job opportunities elsewhere.
According to a recent report by a moving company database, for every94 searches about moving into Washington state so far this year, therehave been100 searches about moving out. That puts the in-to-out ratio at 0.94. Meanwhile, search data from 2020 and 2021 was at 1.09 and 1.04, respectively, meaning more folks were looking to move into the state in years past.
So where are people moving to and from? In the report, California (13.8 percent), Texas (11.9 percent), and Florida (8.71 percent) were the top three states welcomingformer Washingtonians. Funnily enough, new transplants to the Evergreen State are coming from those same three areas: California (25.91 percent), Texas (10.41 percent), and Florida (4.73 percent).
For the report, the company collected search data from January 1 through September 5 of this year, and only from searches on its site—about 20,000—so it's not a comprehensive measure by any means, but it could be a symptom of the formerly sky-high housing market prices and cost of living.
That said, according to the most recent census datafrom June of 2022, the net migration of peoplein Washington was up by about 83,300 from the same time in the previous year. Whether that'sa result of the brisk housing market at the end of 2021, before the recent cooldown, we won't know until the next census report in 2023.
Until then,here's what's happeningelsewhere in real estate news...
Love and marriagemortgage
A recent survey conducted by real estate brokerage and listing company Orchardfound that 25 percent of couples in America would considerlooking at real estate with someone after only six months. Is it housing market desperation or true love? You decide.
About that dead body...
The Olympian reportsa Clark County real estate agent discovered a dead body while showing a vacantCamas property to a potential buyer.A person of interest in the case was deceased the next day from an apparent self-inflicted gunshot wound, but the situation highlights the safety issues real estate agents face. Ina2021 National Association of Realtors poll, 14 percent of respondents said they feared for their personal safety or personal information in 2021.
Mind the rent gap
After seven months of growth, rents finally went down in the Seattle area in September. But all that growth hasn't been the same across the region. Since March 2020, rents in Seattle'surban corehave rebounded by6 percent, according to Apartment List. Rental prices in the suburbs, however, grew by 23.8 percent during that same time period.
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I'm an enthusiast and expert in real estate and demographic trends, with a deep understanding of the factors influencing people's decisions to relocate. My expertise is grounded in a comprehensive knowledge of various databases, research methodologies, and census data analysis.
Now, let's delve into the concepts presented in the article:
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Pandemic Impact on Migration: The article discusses the significant impact of the pandemic on people's decisions to move. The desire for more space, lower living costs, and flexible job opportunities has prompted a shift in migration patterns.
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Search Data Analysis: The moving company database's report reveals valuable insights through search data analysis. The in-to-out ratio, indicating the interest in moving into or out of Washington state, provides a quantitative measure of the changing preferences. The decreasing ratio over the years suggests a shift in sentiment.
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Top Destinations: California, Texas, and Florida emerge as the top three states both welcoming former Washingtonians and sending new transplants. This reciprocal movement between specific regions indicates regional preferences and shared demographic characteristics.
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Data Limitations: The article acknowledges the limitations of the study, emphasizing that the report is based on search data from a specific moving company database. This limitation highlights the need for caution in generalizing findings and emphasizes the importance of considering other factors influencing migration.
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Net Migration Figures: The article references recent census data, indicating a net migration increase of about 83,300 people in Washington from the previous year. However, it raises the question of whether this is a result of the housing market conditions at the end of 2021 or other factors. The need to wait for the next census report in 2023 underscores the importance of longitudinal analysis for a more comprehensive understanding.
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Real Estate Market Dynamics: The article briefly touches on the real estate market dynamics in Seattle, mentioning the growth and subsequent decline in rents. It highlights the divergent trends between the urban core and suburbs, indicating variations in rental price changes over time.
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Safety Concerns for Real Estate Agents: A specific incident involving a real estate agent discovering a dead body during a property showing is highlighted. This incident underscores the safety challenges faced by real estate professionals, as revealed in a 2021 National Association of Realtors poll where 14 percent expressed concerns about personal safety.
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Cultural Attitudes Toward Homeownership: The article briefly mentions a survey conducted by Orchard, indicating that 25 percent of couples in America would consider looking at real estate together after only six months. This raises questions about cultural attitudes toward homeownership and the possible influence of external factors such as the housing market.
In conclusion, the article provides a snapshot of the complex interplay between economic, demographic, and cultural factors influencing migration and real estate dynamics in the Seattle area.
