Top 10: States People Are Moving to (and Leaving) the Most
Originally published by: Builder Online — January 12, 2015
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Americans are migrating to the West and South according to the 2014 Annual United Van Lines National Movers Study released last week. Oregon holds onto its spot as the top moving destination in 2014, with inbound moves at 66 percent, according to the study, which tracks the state-to-state migration patterns of its customers each year.
Here is map with notable inbound and outbound migration including 2013 new-home closings, preliminary 2014 closings (which will still be revised upward as final closings for the year are recorded), and the median closing prices for new homes.
Good weather, lower cost of living, and access to green spaces are considered big drivers for high inbound migration in the top states according to the study. Another sign a state is bound to grow? D.R. Horton builds there.
Of the public builders, Horton leads in numbers of closings in seven of the top 10 states for inbound state-to-state migration in 2014. Horton closed more than 15,000 new homes in the top states and grew its number of closings year-over-year in Oregon, South Carolina, Texas, and Florida. Even in Nevada, where inbound migration did not mean a great year for new-home sales, Horton maintained relatively steady sales with less than a 5 percent decrease in closings from 2013 to 2014. The only two states in the top 10 where Horton does not build are DC and Vermont; the two states with the least new homes closed among the inbound migration magnets.
Here are rankings for the top inbound states of 2014:
- South Carolina
- North Carolina
- District of Columbia
With the exception of Vermont, the Northeast continues to lose residents state-by-state. More than 55 percent of moves to and from New York, New Jersey, and Connecticut were outbound last year. DR Horton, of course, does not currently build in New England, but has a small presence in New Jersey. Toll Brothers leads the public builders in 2014 closings in New Jersey and Connecticut and NVR in New York.
Here are top outbound states for 2014 ranked:
- New Jersey
- New York
- North Dakota
- West Virginia
- New Mexico
The housing goliath is making smart moves growing in strong markets and targeting the entry-level buyer with its Express Homes value line. Of the five states in which new-home closings accounted for at least 10 percent of closings overall in 2014, Horton builds in all five, and is the leading public builder by closings in three ( Texas and the Carolinas). America’s largest builder is a tough act to follow with stronghold on the growing states, affordable markets, and apparent reemergence of Manifest Destiny.
If Horton builds it, they will come.