. And secondly, they are also states where housing is more affordable and available than in parts of the country that lost residents.
"Everybody knows about the low taxes and great weather in these areas, but something else that makes these areas popular is the robust job market recovery after the pandemic," Evangelou told CBS News."Not only were their economies able to recover all the jobs that were lost, but there are 5% more jobs now than there were in 2020."
Florida was the biggest net gainer last year, with about 319,000 people migrating into the state, the NAR analysis found. California lost the most residents, with 343,000 leaving the state for other regions. People who move out of New York state typically save 15 times more from lower housing costs than from tax savings, the new analysis found.
This is all a normal pattern. People will move, drive up prices over time while a government has to tax more to support an increase in demand for services, they raise taxes while demand drives up prices, people move elsewhere....and on and on.
Cost of living in Florida has tripled in the last year. Work from home out of state has caused rents to soar.