Migration to Hot Housing Markets Cools Off

Source: Brookings Institution
By: William H. Frey

Migration to America’s fastest-growing areas has tapered off in the last year, newly released Census data show. The slowdown is sharpest in places where growth was fueled in large part by the decade’s hot housing market—Florida, the Mountain West and ex-urban counties.

At the same time, the formerly foot-loose residents of coastal California, Northeast and Midwest cities and inner suburbs are mostly staying put. This “migration correction�? is a response to the housing market correction that has kept would-be buyers from locating to previously hot areas, and in many cases, keeping them from selling existing homes in the established locales.

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