Mayflower Study Reveals Americans’ Rising Faith in Housing Market
Mayflower reports 16 percent growth in residential moves during Q1
ST. LOUIS, April 3, 2013, With the economy stabilizing, Americans are feeling, once again, the bite of the moving bug.
Nearly half of Americans (47 percent) say they feel more comfortable purchasing a home today than at any other time in the past five years, results of a new survey by Mayflower show. And nearly a third say they are now ready to make a move.
Mayflower, America’s most recognized and trusted moving company, saw evidence of the change in attitude in its own first quarter 2013 results. Compared to first quarter 2012, residential moves were up 16 percent in the historically slowest moving months – January through March.
The new data are also consistent with other national data showing continued rises in existing home prices and sales. Growth appears to be the strongest in the West, where the Mayflower data showed 54 percent of survey respondents are now comfortable purchasing a house.
The data reflect an easing of the wariness Americans have felt in recent years in the aftermath of the bursting of the housing bubble in 2008. Although the average American reports moving six times throughout their adult life, nearly half of Americans (49 percent) say they have put off moving since the bubble burst nearly five years ago. Of those surveyed who had delayed a move, 37 percent cited economic instability as the main reason while another 31 percent blamed the declining real estate market.
Among those now interested in searching for a new home within the next year, the survey showed the desire for a new or better home is the leading motive. Other important motives include a desire for a more attractive neighborhood and the desire to become a homeowner.
Most mobile are the young, with half of Millennials (18-34 years old) more receptive to buying a home than renting and looking to move within the next year. While younger consumers would be more likely to move due to a change in employment or a growing family, half of adults over the age of 65 would consider moving in the next year because of retirement.
Despite the readiness to upgrade their living situations, Americans do acknowledge that moving is a stressful, and often dreaded, life event. Many survey respondents (44 percent) would rather go a week without Internet than move. Another 52 percent would prefer a trip to the dentist, and 15 percent even went as far as to say a root canal would be more enjoyable. Of all the stages of the moving process — planning, scheduling the move, packing, transporting the items and unpacking — 41 percent of people agree that packing is the most stressful part.
To ease the stress of a move, Mayflower offers a variety of services such as full-service moves that include packing, loading and transporting all of a customer’s belongings as well as PC and network assembly and the ability to track your belongings online from doorstep-to-doorstep. People who have had the opportunity to utilize a full-service moving company during their last move almost unanimously (98 percent) say they prefer it.
“We are ready to respond to the surge of moves with services, features and technology that make moves hassle-free and uncomplicated,” said Carl Walter , vice president of Mayflower Moving. “Moving is one of the most stressful and overwhelming times in a person’s life. We offer customers instant on-site estimates and personalized moving websites that significantly simplify the process.”
The peak moving season begins in May and will continue until September. Mayflower offers these tips to help consumers save time and money throughout their move:
- Move on a weekday. Weekends are the time when most people want to move, but on weekdays, moving trucks often go unused. Book a truck on a Monday or Tuesday and use the weekend to prep for the movers’ arrival.
- Move in the early part or middle of the month. A lot of household moves happen at the end of the month, which means prices will be higher.
- If given a choice, avoid moving in the summer, especially June and July. You can save big on your moving costs.
- Book in advance. Once you know the date of your move, book your mover right away.
- Do some of your own packing. You can easily pack clothes, blankets, pillows and other non-fragile items yourself. For the breakable items, considering letting professionals pack them to avoid having to replace broken items.
- Consider a do-it-yourself option like a container. Portable moving and storage containers allow you to pack and load your things at your own pace. A professional will pick up your loaded container and deliver it to your new home, so you don’t ever have to drive a truck.
- Look for a company that offers cash back options on your real estate transaction. Mayflower’s CityPointe® program allows customers to earn cash back on the price of the home they buy or sell simply by using a realtor from a carefully qualified list of agents. In some cases, the cash back can cover the cost of your move.
- Bundle other services into the price of your move. Look for a carrier that can arrange for services like cleaning, PC and network assembly and disassembly, and ID theft protection. Bundling these services with the cost of your move can help you save hundreds of dollars compared to hiring separate companies for each service.
Survey Background and Methodology
Respondents to the survey were selected from Research Now’s Consumer panel to reflect a general distribution of the consumer population over 18 years of age. 1,020 respondents completed the survey without knowledge of Mayflower’s sponsorship. Demographic descriptions:
- Millennial represents people between the ages of 18-34.
- Gen X represents people between the ages of 35-49.
- Boomer represents people between the ages of 50-64.
- Pre-Boomer represents people older than 65 years old.
- The Research Now panel represents a wide range of consumers, including a subgroup of respondents that have moved within the last five years.
Mayflower is America’s most recognized and trusted moving company. Together with its sister company Mayflower Containers, Mayflower offers a full range of moving services from full-service to do-it-yourself moving and storage. With headquarters in suburban St. Louis, Mayflower maintains a network of 300 affiliated agencies. For more information about Mayflower Transit and its services, visit Mayflower.com or find us on Facebook: www.facebook.com/MayflowerMoving.