The percentage of Americans who move is at its lowest rate in recent history, with only 8.7% of Americans relocating in 2022, down from nearly 20% in the 1960s.
William Frey of the Brookings Institution notes that multiple factors, including the delay in marriage among younger people and the stability of older homeowners, contribute to this historic low.
Frey highlights that remote work has reduced the necessity for geographical moves, as fewer people need to relocate for new employment opportunities.
In a notable shift, local moves have dropped below 5%, indicating a significant change in migration patterns compared to 2010 when local moves were nearly 9%.
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