Here are my updates for January 21, 2014
The Decline in Geographic Mobility
Geographic mobility, the movement of people within the United States, declined steadily over the past three decades. Between 1984 and 1985, 20.2% or one out of every five Americans over the age of 1 year moved. In the most recent period, between 2012 and 2013, the mover rate was only 11.7%. The mover rate is a measure of geographic mobility provided by the Census Bureau, calculated by taking the number of movers divided by the total population over 1 year old.
The decline in geographic mobility is due to a combination of factors. In a recent paper from the Federal Reserve discussion series, researchers find declining labor market transitions, rising homeownership rates, and an aging population to be contributing factors.
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”