Swift Swings examines a single economic trend in brief.
Statistics indicating that 2024 was the second-worst year for van relocations to California since 2004 further support the state’s incapacity to draw in foreign visitors.
Over the course of more than two decades, my trusty spreadsheet examined my intriguing collection of yearly migration statistics from three moving van lines: United, Atlas, and Allied. Keep in mind that moving across state lines might be costly. Therefore, it is preferable to think of these numbers as a gauge of where those with large paychecks or firms with generous salaries are heading.
In 2024, the three van lines linked to California made an average of 58.9% exits and 41.1% moves to the Golden State. Aside from 2022’s 40.5% slice, that is the second-lowest arrival share since 2004.
The inflow share decreased by 2.77 percentage points from 43.8% in 2023 to last year. This decrease is the second biggest since 2004. The only one that caused a worse decline was the pandemic-mania of 2020.
Additionally, 2024 arrivals fell short of the pre-coronavirus pace of 48.7% from 2004 to 2019 and the average of 42.3% since the epidemic started in 2000.
Van moves in California frequently follow national migration trends.
Since 2004, there have been 14 alignments between changes in the state’s overall net population loss to other states and swings in the gap between van movers entering and leaving California. But during the last two years, their paths have diverged.
State demographers report that net outmigration from California is declining. Compared to 249,300 in 2023 and the average of 273,200 since 2000, the 197,000 population migration to neighboring states in the year ending July 1, 2024, was a significant decrease.
Consider some less expensive interstate relocation options.
According to the statistics I translated from U-Haul’s spreadsheet, around 49.3% of its DIY relocations in California last year were inbound, which is not substantially different from 49.2% for 2023.
According to U-Haul, while moving activity generally slowed in 2024, arrivals into California decreased 1.5% and departures decreased by nearly 2%.
Compared to those who hire van lines, these equipment rentals are less expensive and represent those with less money.
Inbound U-Haul moves from California have decreased somewhat in recent years, averaging 49.4% since 2000 as opposed to 49.9% prior to the coronavirus in 2015–2019.
According to a recent population analysis conducted by the Center for Continuing Study of the California Economy, outmigration rates may continue to drop throughout the state, particularly as rising housing costs and climate-related events in other states make California less competitive.
The Southern California News Group’s business columnist is Jonathan Lansner. His email address is [email protected].
Several of my well-known stories from 2024
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No. 1:
It takes $349,200 income to buy OC home, 3.5 times US salary
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No. 2:
20 least-affordable US cities to buy all in California
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No. 3:
Pelican Hill switching to Marriott, St. Regis
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No. 4:
California has 13 most-unaffordable small US cities
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No. 5:
Temecula one of 50 best places to live in US
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No. 6:
3 in SoCal among fastest-selling home projects in US
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No. 7:
Finally, Bass Pro opens in Irvine
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No. 8:
California auto insurance premiums soaring 54% this year
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No. 9:
Ziggurat building in $150 million-plus bidding war
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No. 10:
California s hardest spot to find an apartment?
