22.03.23 | In the US, it seems people are migrating from urban center to states in the southeast and southwest and to rural areas. For instance, the National Association of Realtors showed 48% of home purchases in 2022 (year ended in June) were in small towns and rural areas – an all-time high since 2003. Also, buyers who purchased a home in the year ending June 2022 moved a median distance of 80 kilometers from their previous residence. Lastly, about 50 out of 88 US cities with a population of over 250,000 inhabitants experienced population declines in 2021, while the total US population grew. It remains unclear however, whether this was a blip due to the pandemic or whether this is set to continue.
Source: US National Association of Realtors, 2022.