Map shows which states people are moving out of and where people are going. Outflow from California and New York still remains the highest. Florida is still the number one destination while migration to Texas has slowed down.
Relative to its population, Florida had a fairly small rate of arrivals from California, Census Bureau data shows, just 1 person per 1,000 residents. But the households that do move from California to Florida are also wealthier, on average, than those making the opposite trip.
The average household income among people who moved from California to Florida between 2020 and 2021 was nearly $200,000, according to from the IRS.
Market sentiment has significantly shifted over the last month, leading to a continued decline in mortgage rates. The current trajectory of rates is an encouraging development for potential homebuyers, with purchase application activity recently rising to the same level as mid-September when rates were similar to today’s levels. The modest uptick in demand over the last month signals that there will likely be more competition in a market that remains starved for inventory.
