On to a New Locale?
Many of us spent more time than ever at home during the past year and a half, giving us an opportunity to imagine a nicer home, more space for social distancing or working from home, or a welcome change of scenery. To learn if we can expect a post-pandemic migration in America, we recently surveyed almost 1,000 members across the US about their moving plans.
Three-in-ten of those we surveyed say they are planning to move into a new home in the next two years, a lift from the 22% who say they moved in the past two years.
So who exactly is more likely to move? Those who live in large city outskirts (43%) or large towns (41%), have children younger than six years old (38%), or are 18-34 years old (47%) demonstrate a higher likelihood of changing addresses.
By contrast, those living in the West (22%) or Rural (23%) areas, maintain an income higher than $80K (22%), married (23%), or 45+ years old (19%) are less likely to be on the hunt for greener pastures.
Movers aren’t just dreaming about new walls to decorate. Many are thinking about a completely new community to call home. Around six-in-ten (58%) of those who plan to move in the next two years plan to move an average of four hours away from their current home. To a lesser degree,17% who are moving to a new area will drive more than a day to get there.
Is the pandemic driving decisions to move? Overall, 28% of movers say COVID-19 influences their decision, with this aspect more influential among residents of denser neighborhoods. What holds sway aside from the pandemic is the desire for cost savings (mortgage/rent/utilities/maintenance), the proximity to beautiful scenery, more space between neighbors and/or less maintenance needed (29-37%).
In an Urban State of Mind
Many might think pandemic lockdowns could push Americans to look for housing away from denser living conditions. But large open spaces of an acre or more probably won’t see an increase in new residents. Large city centers and outskirts are desired by 27% of people who plan to move in the next two years, an increase compared to 21% who say they’re currently living in or near large cities.
In the end, housing market costs and rental availability will play an integral part in finding that dream home. And moving day comes with an increased demand for cleaning products, new furniture, decorations, and home improvement supplies. Fortunately, Prodege’s clients can keep their finger on the pulse of these trends with our survey capabilities and our consumer insights have the Prodege rewards portfolio to start earning cash back on their purchases today!
Looking to reach this highly targeted panel of engaged members? Let us know how we can help!
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