U.S. Consumer Moving/Relocation: Attitudes and Behaviors February 2010

Survey Sample and Statistics

Survey Sample

• Relocation.com authorized a series of periodic consumer surveys -beginning in March 2009- to provide ongoing market intelligence regarding U.S. Consumer Moving and Relocation attitudes and behaviors.
  
  
• A primary purpose for these surveys is to identify and track important trends in moving behavior as well as identify emerging societal and economic issues affecting consumers’ decisions to move and relocate.
  
  
• The current survey was launched in mid-February, 2010 and completed on February 22, 2010. In order to obtain a statistically relevant sample, e-mail invitations - to take the survey - were sent to approximately 20,000 Relocation subscribers (i.e., consumers who signed up to receive more information from Relocation.com)
  
  
• This survey was focused on identifying current reasons for moving as well as assessing the impact of the U.S. economic recession on consumers’ decisions to move. The average time to complete survey was less than five minutes.
  
  
• A total of 998 consumers clicked on the survey link and 74% (742) completed the survey.
  
  
• The final sample size of 742 is of sufficient size to insure statistical relevance of the obtained results with an average error tolerance that is no greater than +/- 2.5% at the 95% confidence level and a maximum error tolerance of less than +/- 4%.
  
  
• More than two-thirds of all respondents (69%) were 35 years old or older with 23% over the age of 54.
  
  

Respondent Age

How Far Did You Move?

This data suggests that almost half of these consumers (44%) made a relatively short distance move (i.e., within the same city or same state) with only 56% moving 100 miles or more.

Moving Distance Comparisons

Primary Reason for Moving

Reasons for Moving Comparison

Compared to the Mover respondents in March 2009, the current respondents seem to be moving less for family reasons and also fewer are moving for career reasons. The percentage moving for economic or financial reasons (positive or negative) is quite consistent from year to year.

How Did You Move?

Did You Move Yourself?

The segment of the total sample that moved all their household goods with a Professional Mover has decreased19% (from 31% to 25%) from the June 2009 survey (this question was not asked in the March survey)

Homeowner or Renter Status

Homeowner or Renter?

Homeowner vs Renter : Current Status

Number of Participants 742

Note: 22% of all current renters are former homeowners renting temporarily while they look for a new home to purchase

Effects of Prevailing Economic Conditions

Did Economic Conditions Influence Your Decision to Move?

The percent of sample that moved due to foreclosure has increased 150% since the June 2009 survey (question not asked in March 2009)

Foreclosure as Reason for Moving

June 2009 compared to February 2010

Where Did You Move?

Destination State and City

Based on the difference between the March 2009 survey results and the present survey, it seems that a lower proportion of movers are moving to Florida and Texas and California (despite the state’s well publicized financial difficulties) is again the leading destination state as it was in earlier national surveys conducted in 2007 and 2008.

Perhaps, the high rate of foreclosures in Florida is a factor in this decrease

Destination State Comparisons Top 5 States by %

Executive Summary

• Based on these results, it appears that the economic recession continues to have a moderately strong effect on U.S. moving and relocation behaviors.
  
  
• Almost one in five respondents (18%) indicated that they moved to a new location with a lower cost of living and/or cheaper rent.
  
  
• Furthermore, 5% of the consumers who took the survey indicated that they lost their home through foreclosure (an increase of 150% from the June 2009 survey) while 13% reported that they lost their job.
  
  
• However, the economic crisis is obviously not affecting everyone who moves currently--- 54% of the sample indicated that the recession was not a factor in their decision to move.
  
  
• In fact, 10% of this sample of moving consumers moved because home prices had dropped enough for them to afford a home in a desirable area.
  
  
• The struggling U.S. economy may also be responsible for a lower proportion of consumers making long distance moves (100 miles or more) now than in the past; almost half the sample moved within the same city or same state and the proportion moving 1000 miles or more is much less than in past surveys (31% vs. 70%).
  
  
• Finally, the percentage of consumers who relied solely on a professional moving company to move their household goods is the lowest it has been in three years of national surveys and this finding also can be attributed to the economic recession.