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Improving markets could mean more migration

  • June 14, 2012

Improving markets could mean more migration

For those considering moving out of state, 80 housing markets in 31 states have demonstrated marked improvement over the last several months, according to the Improving Markets Index (IMI) issued by the National Association of Home Builders (NAHB). To make the list, metro areas had to show growth in the number of housing permits, employment rate and average house price for at least six consecutive months.

Improved markets
These indicators suggest that the overall health of the national economy is improving, and people hoping to relocate have a much wider list of agreeable options than they did a few months or years ago.

The markets are scattered across the country and include locations from Cheyenne, Wyoming, to Cape Coral, Florida. Showing growth across several categories, these metro areas are once again moving in the right direction, according to the report.

Counteracting the recession
The recession and housing crisis made Americans a much less mobile bunch, according to the Seattle Times. Hemmed in by tight finances or reluctant to leave a steady job, many people stayed put for the lean years of the recession.

"Migration has something to do with getting your life going again," Bill Frey, a senior fellow at the Brookings Institution, told the news source. "A lack of movement represents people putting their lives on hold."

But with the release of the IMI, this reluctance to relocate may be dissipating. The improving housing markets across the country may make it easier for Americans to shoulder the costs of relocation and moving services in the hope of landing a better job, living in a better climate or being closer to friends and family.

A reason to move
Those that have been wary of moving to Columbus, Indiana, for example, will likely be encouraged by the IMI reporting a 21 percent increase in employment in the area. Knowing that specific housing markets are on the upswing may encourage citizens to call van lines to move to the area they've desired since the recession began.

Turnaround
The drastically reduced relocation rates of the last few years - which were the lowest since the Census Bureau began collecting data on it in 1948, according to the Seattle Times - could finally start turning around once Americans begin seeing the improvement in areas across the country.

When this happens, many will find that hiring a household moving company makes the process easier and allows them to take advantage of the strengthening local economy.

 

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