Seoul: The number of South Koreans relocating to new residences saw a decline in July compared to the previous year, as a slowdown in the housing market impacted mobility, recent data revealed.

According to Yonhap News Agency, approximately 468,000 individuals moved residences in July, marking a decrease of 86,000 from the same period in 2025. This figure represents the lowest since July 2022, when 460,000 people changed their place of living. The population mobility rate, specifically the number of people relocating per 100 residents, dropped by 2 percentage points year-on-year, settling at 10.8 percent.

The Ministry of Data and Statistics indicated that the decline in population mobility is attributed to a reduction in housing transactions. The number of homes traded during May and June, which influenced the July data, decreased by 0.9 percent from the previous year. A statistics official also noted a potential base effect, citing stronger housing-related indicators in July of the previous year.

Regionally, Seoul experienced a net outflow of 6,108 individuals. Similarly, South Gyeongsang Province and the southeastern port city of Busan recorded net outflows of 813 and 661 people, respectively. Conversely, Gyeonggi Province saw a net inflow of 5,106 people, with Incheon, located west of Seoul, following with an inflow of 2,547 individuals.