Could California’s long slide be abating?
According to recent data from Relocation.com, the number of people leaving the state is shrinking compared to the number of people moving to it, a crucial gauge for measuring the state’s rebound from economic calamity.
As recently as 2005, 60.7% of the relocation activity for California was outbound – in other words, for every 2 people who were moving to California, 3 were leaving.
That kind of migration can decimate the local tax base and contribute to a further erosion in the state’s quality of life.
However, that outbound number has been slowly decreasing every year, from 58.6% in 2006 to 54.99% in 2009 year to date.
These numbers are reflected in the Los Angeles data.
We looked at the data for all moves in Los Angeles, including moves made within Los Angeles. We found that outbound Los Angeles moves accounted for 36.4% of all moves in 2009 year to date, down from 43.1% in 2008 (the earliest year for which city data are available).
However, instead of people moving to Los Angeles, we found that more people were making moves within the Los Angeles area, an indication that more people are taking advantage of housing prices to either ‘move up’ to a better home, or move to a better neighborhood.
Most importantly, of course, they’re deciding not to move out of Los Angeles.
The percentage of movers making a move within LA was 25.2% in 2008; it rose to 32.33% in 2009.
Relocation.com utilizes real-time data from people requesting moving services, recording where people are moving from and to. It annually records over 500,000 moving requests in its database.
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on Monday, October 26th, 2009 at 12:33 pm and is filed under Real Estate, Relocation, Relocation Data, Uncategorized.
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