As Economic Recovery Falters, More Americans Stay Put

According to Jed Kolko, Trulia’s Chief Economist, recent census mobility figures reveal the mixed nature of America’s economic recovery.
September 30, 2013, 8am PDT | Anna Bergren Miller | @abergrenmiller
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The data indicate that while the number of Americans moving to a new home rebounded in 2012, the change didn’t last. The 2013 figures are almost down to the recession’s low point, reached in 2011.

A closer look at the numbers shows what is and isn’t getting better. During the recession, most everyone put off moving--except for those Americans looking for cheaper housing. In 2013, fewer people moved for that reason, and more relocated for a new job or to upgrade their living situation.

“As the recovery continues, we should at least see an increase in longer-distance moves,” which tend to accompany job growth, Kolko writes. “[B]ut with the many-decade decline in mobility, it’s unclear when or if mobility will return to pre-bubble levels.”

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Published on Friday, September 27, 2013 in Trulia Trends Blog
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