It looks like San Diegans are literally on the move, in large part due to high housing prices and other high costs in the region.
San Diego is listed among the top U.S. cities suffering a loss of residents to such Southern states as North and South Carolina, Arizona and Tennessee, according to a just-released report from national residential mover Allied Van Lines.
The study, the 2023 US Moving Migration Report, offers a deep dive into recent moving trends across the nation.
A central aspect of this year’s report is the profound impact of fluctuating mortgage rates.
“The rapid rise in rates, their highest since 2002, coupled with other economic factors such as skyrocketing home and rental prices, paints a complex picture of the current migration landscape,” the release said.
However, the outbound flow appears to be ebbing as the 2020 COVID-19 pandemic recedes in the rear-view mirror.
The report found a steady decline in interstate moves, following a 20% decrease in 2022 compared to 2021, with another 12% decline in 2023.
This trend highlights a shift in migration patterns over the last two years, reflecting a cautious approach in the face of economic uncertainties.
The most popular cities to move to are Charleston and Charlotte in the Carolinas.
“These areas attract residents with their economic opportunities, affordability, and quality of life,” the report said. “Conversely, states like Illinois and California and cities such as Chicago and San Diego, top the outbound list, impacted by high living costs and other economic challenges.”
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More of the same when it comes to moving out of San Diego.
Another residential mover and Allied competitor, North American Van Lines, has released its 2023 Annual Migration Map, which highlights trends in people moving within the U.S.
San Diego, along with Chicago, was mentioned because of the high numbers of residents leaving for other, cheaper locales.
“For the fifth year in a row, Illinois continues to see the most significant increase in outbound migration, with California a close second,” according to a news release issued on the report. “Affordability continues to drive interstate migration in 2023. Individuals and families are leaving high-cost cities like San Diego and Seattle to settle in areas that provide affordable housing and a lower cost of living.”
But North American’s report also found “a significant decrease in the number of moves in 2023.”
“This is suspected to be a direct result of high inflation, ongoing layoffs, and rising interest rates,” the company said.
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Moonwalk Biosciences, a startup focused on precision epigenetic treatments, says it has secured $57 million early round financing from Alpha Wave Ventures, ARCH Venture Partners, Future Ventures, GV, Khosla Ventures and YK Bioventures. The company has facilities in San Diego as well as in South San Francisco.
The company says it will use the funding to continue work on its epigenetic profiling and engineering technology platform, as well as boosting its pipeline of epigenetic therapeutics for clinical trials.
Moonwalk‘s platform aims to reprogram cells to their healthy state by targeting the epigenetic code, or “the software” of the genome.
The approach opens up the epigenome as a new target space for complex diseases, marking Moonwalk as the first company to couple an epigenetic discovery platform with precise engineering, the company said.
Moonwalk CEO Alex Aravanis explained that epigenome engineering is the next frontier of genetic medicines, offering safer and more effective treatments for a broad range of diseases without altering the underlying DNA sequence.
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San Diego-based Ligand Pharmaceuticals says it has received an OK from the FDA for its treatment of molluscum contagiosum in adults and children.
The drug, Zelsuvmi, is the first approved for home use for treating molluscum infections.
According to a company news release, molluscum contagiosum is characterized by skin-colored to red lesions with a central, umbilicated viral core, affecting 6 million Americans each year, mainly children.
Zelsuvmi, a nitric oxide-releasing agent, demonstrated efficacy in reducing lesion counts and was well-tolerated in Phase 3 trials, according to the release.
Ligand Pharmaceuticals CEO Todd Davis said the company’s new product is expected to be available to consumers later in 2024.
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The San Diego chapter of the American Society of Landscape Architects has named Jackie Higgins as President for 2024.
“Higgins, a licensed professional landscape architect with over 20 years of project management experience, is known for leading data-driven land-planning projects and advocating for creative interdisciplinary solutions to ecological and social challenges,” the chapter said in a news release.
Now serving as vice president of planning, design and programs at Forever Balboa Park, Higgins holds a BS from Rensselaer Polytechnic Institute and a MA in Landscape Architecture from California State Polytechnic University of Pomona.
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The Greater San Diego Association of Realtors says it has appointed Saul Klein as the CEO and Director of its multiple listing service.
“Klein, known for his nearly 50 years in real estate and pioneering technological integration, will lead daily operations, enhance the subscriber and participant experience, and position SDMLS as a forefront provider of invaluable real estate data in San Diego County,” according to a news release.
The release said Klein aims to ensure SDMLS remains the exclusive and locally owned MLS, “aligning with the evolving needs of real estate professionals in the changing landscape of residential sales.”
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Finally, this little item of note…San Diego-based hospitality and campus supplier Front Desk Supply says it anticipates a surge in demand for student and staff access supplies, such as ID Cards, in the upcoming school year based on their analysis of CommonApp.org data.
CommonApp said in late 2023 that more than 836,000 first-year students had applied to enroll in college for the 2024-2025 school year.
The local forms provider says it is “a key partner across various industries, including boutique hotels, resorts, casinos, cruise ships, and higher education.”
“We’ve seen data that more young adults are applying for college again, and this means additional resources will be needed for those incoming students,” said a company executive in a news release. “Many universities have been operating on reduced supplies since the pandemic as virtual classes kept many students at home or in the dorms, but now these numbers indicate the return of vibrant campuses across the country.”
Tom York is a Carlsbad-based independent journalist who specializes in writing about business and the economy. If you have news tips you’d like to share, send them to tom.york@gmail.com.
