Among people most likely to move in the next three months, most are in their 30s and have more in savings and assets than the national average according to a quarterly study by Audience Town (AT), a real estate, moving, and home-centric advertising platform.
AT accrued the data as part of its Q2 Mover Report, which identifies likely movers as determined by millions of data points including life events and public records.
Among other trends, the report notes that likely movers live in a home worth $300,000 or more and that experts and researchers expect young couples to move in far greater numbers than their elders.
“People move because of life events, and the Covid-19 pandemic has been the single most significant life event many of us have ever lived through,” said Ed Carey, CEO of Audience Town. “People are moving in huge numbers, and it’s going to be a massive year for residential real estate. Our most recent data shows that likely movers are younger and more affluent than the nation as a whole, which is going to redefine the national landscape.”
Among the other characteristics of likely movers from the report:
- 11.7 million Americans are anticipated to move in Q2, 2021
- 17.5% are business owners, making business owners 59% more likely to move than the general population baseline
- 17% hold executive management titles; 65% above the population baseline
- 16% have assets worth more than $500k, 7.6% above the population baseline
- Almost one-third of likely movers (32.8%) are concentrated in California, Texas, New York and Florida
- 58.9% of likely movers hold mortgages over $450,000
- 20.2% of likely movers have lived in their current home for just 1-3 years, 34.7% more than the population baseline
“Making the decision to move often requires significant capital, so it’s not too surprising to see that likely movers are wealthier than the general population,” Carey said. “What is interesting is that the pandemic accelerated working-from-home trends, so that many white-collar workers have relocated away from major cities. We expect this shift to be felt in the housing market for some time to come.”