Americans Moving at Historical Low Rates

Americans not moving from home
Recent statistics show Americans are moving less. Why is that and what does that mean for you? Here are some answers from Brandon Transfer & Storage in WPB

Fewer Americans moved in 2016 than any other year. In fact, the percentage of Americans that moved over a one-year period dropped to 11.2 percent according to the U.S. Census Bureau. This may seem worrisome, but there are a number of reasons that account for the lack of moves.

Why Are Americans Moving Less?

First of all, it's important to understand that the decision to move can be either personal or contextual - or both. The following are some moving statistics from Geographical Mobility: 2015 to 2016 that will give you an idea of why Americans are moving :

  • Out of those that moved in 2016, 42.2 percent moved for housing-related reasons; for example, the desire to upgrade to a bigger space.
  • Out of those that moved, 27.4 percent did so for a family-related reason.
  • Around 20 percent moved for employment-related reasons.

So why exactly are Americans moving less? The biggest reason that Americans move is for housing-related reasons. However, fewer people - especially amongst the Millennial generation - are choosing to upgrade from their apartments to houses or from smaller houses to newer houses. On average, Millennials are waiting until they are older to start a family, which means that they are happy with their apartments and aren't willing to take the financial risk to invest in a home.

Those Americans that already own homes are reluctant to move into bigger houses, choosing to renovate their current homes instead as they see this as being much less of a financial risk than taking on another mortgage.

What Does This Mean For You?

If you're planning on moving this year, then it could mean several things. If fewer people continue to move, you'll have an easier time scheduling moving companies during a date that is convenient for you since there will be less competition for their services.

However, it also means that there will be less business for many moving companies. Some of the less reputable moving companies may try to cut corners in order to save money, thereby resulting in a worse moving experience. Because of this, it's extremely important that you look into the reputation of the moving company you choose.

Here at Brandon Transfer & Storage, we are proud of our reputation as one of the most trustworthy and reliable moving companies in the area. If you need to plan an upcoming move, then contact us at Brandon Transfer & Storage today.

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