Below are the highlights from their executive summary, I’d encourage you to take a look at the entire article, it is filled with some fascinating information and stats:
- Compared to the results from the Winter of 2010, it seems that financial and economic issues still continue to exert an effect on U.S. moving behaviors but there are signs in the present survey results that the worst of the recession crisis may be over.
- Whereas in the February survey almost one in five respondents (18%) indicated that they moved to a new location with a lower cost of living and/or cheaper rent; this percentage dropped to 7% in June.
- Furthermore, only 1% of the consumers who took the survey in June indicated that they lost their home through foreclosure which is considerably lower than the 5% rate observed in the February survey.
- And, although 13% of the consumers moved in February because of a job loss, only 4% of the consumers in June moved for that reason.
- Another encouraging sign is that 4% of May/June movers were able to purchase a home for the first time due to the decline in home prices while another 10% moved to a bigger, better home or a better neighborhood.
- 18% of all May/June movers are homeowners who moved and purchased a new home (up from 12% in February) while 12% were former renters who moved to purchase a home.
- Overall, the biggest impact of the struggling economy continues to be in the lower percentage of consumers making Long Distance Moves (1,000 miles or more) compared to survey results from 2007-2008.