The out-migration from California must be slowing – because I doubt the in-migration has been increasing! It’s almost back to pre-covid levels, which means we can say it’s normalizing?

My guess at the reason? When Californians try to make sense of moving out of state, they find that home prices elsewhere have risen so much that it doesn’t make as much sense as it used to.

Thanks to Lance for the data!

This month, the U.S. Census Bureau published their net domestic migration figures for 2024. Keep in mind that this metric (net domestic migration) is NOT total population change. It doesn’t include births/deaths nor international migration.

Instead, net domestic migration is calculated as the difference between the number of Americans moving into a given state (in-migration) and the number of people leaving that state (out-migration) over a specific period.

These 5 states saw the biggest net domestic migration INCREASE between July 2023 and July 2024:

1. Texas —> +85,267
2. North Carolina —> +82,288
3. South Carolina —> +68,043
4. Florida —> +64,017
5. Tennessee —> +48,476

These 5 states saw the biggest net domestic migration DECREASE between July 2023 and July 2024:

1. California —> -239,575
2. New York —> -120,917
3. Illinois —> -56,235
4. New Jersey —> -35,554
5. Massachusetts —> -27,480

https://www.resiclubanalytics.com/