New Data Suggests Young, Well-Off Most Likely to Move
NEWARK, N.J., July 21, 2021 (GLOBE NEWSWIRE) -- Among people most likely to move in the next three months, the greatest share are in their 30s and have more in savings and assets than the national average, according to a quarterly study by Audience Town, the advertising platform for real estate, moving and home.
The company compiled the data as part of its Q3 Mover Report, which benchmarks audiences of likely movers as determined by millions of data points including life events and public records and represents the only predictive residential mover research published. Among other trends, the report notes that likely movers hold a mortgage of $450k or more, and that young singles are expected to move in far greater numbers than their elders. Overall, the data suggests that older Americans are staying in their homes longer, driving up prices and making the highest-end of the market the most active.
“The shock of the Covid-19 pandemic is still being felt in the form of a red-hot real estate market and millions of people reconsidering where they want to live,” said Ed Carey, CEO of Audience Town. “Older people are staying put while the younger and well-off are relocating, especially those that have learned that they can work effectively from anywhere. What’s interesting is that these quarter-over-quarter changes are pretty minor, meaning that people are still planning to move in large numbers, and the same profiles of people.”
Among the other characteristics of likely movers from the report:
- 27.2% of likely movers represent single-person households, 4.9% above the national average.
- 12.1% of likely movers are ages 30-34, 43.9% above the national baseline.
- The greatest number of likely movers have an income of $75k - $100k: 19.4% of likely movers, compared to 14.4% of the general population.
- 56.6% of likely movers - 15.7% more than the national baseline - have a mortgage greater than $450k. This is almost unchanged from Q2.
- 54.5% of likely movers carry some student loan debt.
- 15.9% of likely movers are business owners (42.3% above the national baseline and .6% lower than in Q2)
- 16.2% have professional titles that indicate management (52.3% above the national baseline)
- 18.75% of likely movers had been in their current home 1-3 years, 1.4% fewer than in Q2.
“The pivotal question for the real estate industry is whether the vast relocation we saw begin in 2020 has truly run its course; our data indicate that it has not,” Carey said. “Plenty of people are still changing jobs and looking for more space, which means that the housing market is unlikely to slow down in the coming months.”
About Audience Town
Audience Town has built the first advertising technology platform for real estate and home marketers looking to drive qualified leads and business outcomes. Real estate companies, home brands, CRM, and marketing agencies work with Audience Town to find their most qualified consumers and activate them across digital marketing channels.
Visit www.audiencetown.com for more information.
Broadsheet Communications for Audience Town