About a million fewer people moved in 2003, census finds

REAL ESTATE WATCH

April 11, 2004|By James Gallo

Fewer people moved last year, new data show, despite record housing sales.

According to the Census Bureau, 40.1 million U.S. residents moved in 2003, down from 41 million in 2002. The figures were released recently in a government report, "Geographical Mobility, 2002-2003."

But the report found that geographic mobility remains important to those who are moving. Fifty-nine percent of all moves last year were within the same county, and 19 percent were across state boundaries. By comparison, in 1994 the data show that 62 percent of all moves were within the same county, while 16 percent were across state borders.

People between the ages of 20 and 29 were more likely to move, but people older than 55 were more likely to move to a new state, the data show. The Census Bureau credits formation of jobs and retirement migration for this phenomenon.

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