Oregon Moves Up in Migration Rankings

Is Oregon becoming a popular place to move to again? After years of people leaving during the pandemic, many homeowners and buyers are wondering whether migration trends are shifting back.

If more people are moving into the state again, what could that mean for the housing market and for people thinking about buying or selling?

Oregon jumps back in the migration rankings

A new migration ranking based on one-way moves shows a surprising shift. After falling close to the bottom of the list in recent years, Oregon has jumped back up to number 11. That is a major improvement from last year, when the state ranked number 34.

This jump is one of the biggest changes in the rankings and has many people asking the same question: Why are more people moving to Oregon again?

Oregon used to be one of the most popular states to move to. Several years ago, Oregon was one of the hottest places to live in the country. In fact, the state held the number one spot for five years in a row in an independent migration study.

At the time, job growth played a big role. Major companies such as Nike and Intel attracted workers to the area, especially in the tech sector. As more people moved in for work, the housing market stayed active, and demand for homes remained strong.

What changed during the pandemic?

When the COVID-19 pandemic began, the migration trend shifted quickly. Many companies allowed employees to work remotely, meaning people no longer had to live near their workplaces.

Because of that, many people left Oregon, especially from the Portland area. Some returned to their home states, while others chose locations where they could work remotely and possibly lower their living costs.

For a time, it was common to see homeowners sell their properties in Oregon and move somewhere else entirely.

More people are moving back

Now the trend appears to be shifting again.

One possible reason is that some companies are asking employees to return to the office. When that happens, people who previously moved away may need to relocate closer to their jobs again.

People are moving within Oregon

Another noticeable shift is how people are moving within Oregon itself.

Instead of leaving the state, more people are simply moving from one area to another. For example, many residents are moving from Multnomah County and the City of Portland to nearby communities outside the city.

For a while, many people moved farther away to places like Central and Eastern Oregon and coastal towns.

More recently, however, many moves are happening closer to home. Instead of leaving the region completely, people are selling their homes and buying another property somewhere nearby.

This type of move is more similar to what the housing market looked like before the pandemic.

Bend is seeing increased interest

Bend ranked 14th in inbound migration from out of state, a notable jump. The area was once a small town, but it has grown into a much larger, more active city over time.

This increased interest shows that some buyers are still looking beyond larger metro areas when choosing where to live.

Top states attracting the most movers

Across the country, several states continue to attract large numbers of new residents.

Texas currently ranks first in inbound migration. Florida follows at number two. Other states near the top include North Carolina, Tennessee, and South Carolina.

Washington State sits at number six, followed by Arizona, Idaho, Alabama, and Georgia, which round out the top ten.

Even though Oregon isn’t in the top ten, moving from number 34 to number 11 represents a significant comeback in just one year.

What could this mean for the buyers and sellers?

Migration trends can directly affect the housing market.

When more people move into an area, it usually means more buyers are looking for homes. That increased demand can benefit sellers by creating more competition among buyers.

Right now, the market appears fairly balanced between buyers and sellers. There are more homes available than during the tight market of the past few years, giving buyers more options.

However, if more people continue moving into Oregon, the balance could shift again. A growing number of buyers could slowly push the market back toward conditions that favor sellers.

How long are homes taking to sell?

Another factor to watch is how long homes stay on the market.

Currently, homes are averaging about 90 days on the market as the spring season begins. Buyers are taking their time when making decisions.

If migration into Oregon increases, that timeline could shorten. Some estimates suggest the average time on market could drop by around 30 days if buyer activity grows.

What’s happening with home prices?

Home prices in the Portland metro area have remained fairly steady.

Last year, values declined by about 1% overall. While some people predicted a much larger drop, the market has stayed relatively flat over the past couple of years.

Looking ahead, prices are expected to remain stable. The market could see small changes, such as a 1% increase or another small decline, depending on how buyer demand and inventory levels develop.

Oregon’s jump in migration rankings suggests that interest in the state may be returning after a slowdown during the pandemic.

More people are moving into Oregon again, and many residents are also choosing to relocate within the state rather than leave entirely. While the housing market is currently balanced, a continued increase in buyers could shorten the time homes spend on the market and strengthen demand.

For anyone thinking about buying or selling, these migration trends are worth keeping an eye on this year. If you have questions about what these changes could mean for you, feel free to reach out (503) 806-9773, by email tony@apaclarketeam.com, or by visiting apaclarketeam.com. We’d love to have a conversation about your goals.