Friday, April 8, 2022

Study Shows Washington Still an inbound move state

United Van Lines has the oft cited annual study of who's moving where and why. Washington spent a number of years near the top of the inbound list. Inbound meaning more people are moving in than out. Washington remains a destination but the margins are thinning. According to the study last year Washington had a tad over 51% of moves inbound against a touch under 49% leaving. The high cost of housing is likely a major barrier for those inbound residents. 20 years ago Washington was much cheaper for housing than California, but now many areas west of the Cascades are nearing parity with the Golden State. Speaking of California, they have a 59% leaving stat that is among the most moved out of states.

So Washington remains more popular to stay than leave and that is good. The housing market is surely a testament to the hot desire to live here. Pressure on housing can come from many areas, but it is not buyers driving the market it is sellers. Actually it's a lack of sellers. New home construction cannot keep up due mostly to supply and labor shortages and that makes homes seem more in demand than they actually are.   

Locally Clark County seems like a bargain when contrasted with King County in the Seattle area. Our local inbound residents seem to be coming from Portland and Greater Seattle. This coming from King County often are seeking a better house for the buck where as Portlanders seem to be fleeing all of Portlands recent self inflicted woes.

Vancouver seems poised for some solid gains in value as these external pressures continue in market severely short of listings. 

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