As the housing market continues to recover, MovingCompanyReviews.com anticipates that competition within the moving industry will intensify, due to an increasing number of home sales. According to the National Association of Realtors, home sales are expected to be higher in 2015 and this growth in home sales will benefit both buyers and sellers, as improvements in inventory, slower price gains and pent-up demand contribute to the trend.
MovingCompanyReviews.com (MCR), a site that connects consumers with reliable moving companies, identified 2014’s moving industry trends and predicts how housing trends will impact the moving industry in 2015.
Moving on up
According to MCR data, 2014 was a year of expansion as consumers moved into larger sized homes. The median square footage of homes consumers moved from was 1,100 square feet, and moved into homes that were a median of 1,728 square feet.
On a national level, consumer moving trends indicated:
On the move
According to MCR data, out of state moves make up approximately 20% of moves on the site. In 2014, the top five states where the most consumers moved from were:
In 2014, the top five states where the most consumers moved into were:
Preparing for 2015
As home sellers, buyers and renters prepare for 2015, hiring professional movers is likely to be on their moving checklists. MCR anticipates the five below trends will be prevalent in the moving industry in 2015.
1) Mover availability will be tight in spring and summer months. 2014 was the strongest move season in years according to MCR’s moving company customer feedback. This increase resulted in a nationwide truck driver shortage, making it difficult for consumers to book the move dates they wanted. Consumers can expect this same problem in 2015 and should book a moving company as soon as they know their moving date. The average person books their mover only two weeks in advance, so beating that timeframe means consumers will have a better chance of getting the date they want. This is particularly important between Memorial Day and Labor Day, with moves peaking in August.
2) Major metros are still hot. In 2014, MCR reported the most moves in the nation’s largest cities, including Chicago, Atlanta, Houston, Denver and Dallas. Continued urban population growth and the return of post-recession new construction will continue to fuel moves in these cities. For consumers looking to move in these cities, MCR advises to book a mover at least one month in advance.
3) Interstate moves will expand to smaller cities. MCR anticipates growth in some of the mid-size cities that are joining the trend of urban development, with investments in jobs, housing, retail and dining. The 2015 Emerging Trends in Real Estate report, published by PwC and Urban Land Institute, lists Charlotte, Raleigh-Durham and Nashville as “markets to watch”. MCR data identified a healthy number of moves in these cities in 2014 and expects the trend to continue into 2015.
4) Square footage will remain flat. According to MCR data, 2014 saw an upgrade in home sizes, by a median of 628 square feet. MCR does not expect any more significant upgrades. While the economy is improving, the rental market is still strong.
5) Mover scams are still a threat but more controlled. 2013 and 2014 saw the rise of illegitimate companies that preyed on unsuspecting consumers. These individuals and companies marketed to consumers looking for the lowest price, and then scammed them by drastically increasing the rate at the point of delivery or even holding goods hostage. In 2014, the American Moving and Storage Association (AMSA) and state moving associations made significant efforts to educate consumers on how to choose a vetted, licensed mover. Using a site like MovingCompanyReviews.com helps consumers understand the industry rules and regulations and identify the licensed movers with verified reviews from real consumers.