Number of People Moving to New Neighborhoods in May Hits 52-Year Low Due to Housing Shortage

The number of people who moved to a different neighborhood or region last month reached its lowest level in 52 years, driven by a recent decline in housing supply.

According to the "Domestic Migration Statistics for May 2026" released by the National Data Agency today (June 24), the number of people who moved across town, township, or district boundaries based on residential transfer reports was 466,000 last month, a decrease of 7,000 or 1.5% compared to the same month last year.

This is the lowest figure for the month of May since 1974, when the number stood at 415,000.

The migration rate, which represents the number of movers per 100 people, was 10.8%, down 0.2 percentage points from a year ago, marking the lowest level for May since the relevant statistics began to be compiled in 2000.

Domestic migration statistics track cases where individuals change their residence across town, township, or district boundaries based on transfer reports, and these figures often fluctuate monthly depending on seasonal factors and housing market conditions.

The National Data Agency attributed the decrease in the number of movers last month to a decline in housing completions.

While housing sales in the two preceding months, March and April, increased by 6.8% (9,000 units) compared to the same period last year, housing completions during the same period fell by 41.5% (24,000 units), which the agency explained has constrained the demand for relocation.

Of the total number of movers last month, 65.0% moved within the same city or province, while 35.0% moved between different cities or provinces.

Compared to the same period last year, moves within the same city or province decreased by 3.6%, while moves between cities or provinces increased by 2.7%.

Seven cities and provinces, including Gyeonggi, South Chungcheong, and Incheon, recorded a net inflow of population, while 10 cities and provinces, including Seoul, North Gyeongsang, and Ulsan, saw a net outflow.

(Photo: Courtesy of National Data Agency, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.