The “Great Resignation” is not the only major workforce movement taking place. Realtor.com® also notes the “Great Reshuffle,” as an increasing number of Americans quit their jobs and take new roles—often moving to new locations in the process because they may not need to be near their new office.
Realtor.com®’s research team examined workforce migration data from LinkedIn to identify the areas where job seekers are most often heading, limiting its list to one metro area per state to ensure geographic diversity. Overall, cities within the South and West are emerging job seeker hot spots. They tend to offer plentiful job opportunities and lower costs of living.
“These regions have two big advantages: The weather is relatively warm, and housing is more affordable,” Guy Berger, principal economist at LinkedIn, told realtor.com®. “That was already making them big attractors to talent even before the pandemic. Now, with remote work more prevalent … that attraction has been turbocharged.”
However, the median list price in many of these locales is seeing substantial growth, posting double-digit increases compared to a year ago.
The seven cities that topped realtor.com®’s list of where migration is highest for new jobs:
- Median list price in October: $549,900
- Percentage change from a year ago: 33%
- Median list price: $495,000
- Percentage change: 32%
Myrtle Beach, S.C.
- Median list price: $368,520
- Percentage change: 40%
- Median list price: $469,000
- Percentage change: 7%
- Median list price: $450,000
- Percentage change: 13%
- Median list price: $530,000
- Percentage change: 25%
- Median list price: $349,000
- Percentage change: 17%
Source: “The New Gold Rush: Here Are the Top 10 Cities Job Seekers Are Now Flocking To,” realtor.com® (Nov. 23, 2021)