Home Seller Tenure Remains Near 10-Year Low
How often do you spot moving trucks in your neighborhood? And when was the last time you, yourself, moved? Chances are, as an American, you experienced one or both of those things fairly recently.
Americans move more frequently than people in nearly any other place in the world. Today, we’re going to look at just how often Americans move, as well as why. Here are Americans’ relocation patterns compared to the rest of the world.
Why are Americans Moving?
Americans Move for Family
Whether forming or dissolving households, one in four Americans (25.5%) moved last year for family reasons.
10.65% – To establish own household
6.13% – Change in marital status
8.72% – Other family reason
Americans Move for Work
Nearly one in five movers (19.8%) found a new home for work-related reasons.
11.41% – New job or job transfer
4.92% – Proximity to work or an easier commute
1.75% – Job search or lost job
1.34% – Retired
0.38% – Other job-related reasons
Americans Move for Better Housing
Whether up the road or across the country, almost half (40.2%) of Americans who moved last year did so for better housing options.
14.57% – Wanted newer/better/larger house or apartment
7.82% – Went from renting to owning
6.64% – Wanted more affordable housing
4.14% – Wanted a better neighborhood or less crime
0.64% – Foreclosure/eviction
6.34% – Other housing reason
Other Reasons Americans Move
The data above only takes into account someone’s primary reason for moving. That means it may be likely that some of these following reasons play a larger role in Americans’ relocation than first appears. When combined with family, work, and housing reasons, this shows that Americans have quality of life top of mind before packing the moving truck.
5.13% – Relationship with unmarried partner
3.15% – To attend or leave college
2.00% – Health reasons
0.39% – Change of climate
0.37% – Natural disaster
3.51% – Other reasons a house isn't a short-term living arrangement. Typically, if you're buying, you're planning to stay a while. But how long should home buyers expect to live in the house they purchase?
We can Help with Your Next Move
Are you one of the approximately 30 million Americans who will move in 2023? Moving can be an exciting and stress-free process when working with the trained professionals at Dream Homes By Roberta, REALTORS®. We can connect you to valuable resources that ensure a flawless relocation. We’re ready to manage your move from start to finish.