Census Shows Americans Don't Move As Much As They Used To
Recent data released by the US Census shows that Americans don't move homes nearly as frequently as they used to. As compared to 20 percent of Americans in the 1950s and 60s, the current rate of 11.7 percent is just above the all-time lowest moving rate of 11.6 percent in 2011.
The current data proves that Americans are staying in their homes longer than ever before — on average 8.6 years in 2013. Compared to five years in the 50s and 60s, and the seven years pre-crisis, these current figures show that Americans are less mobile than before the recession.
With nearly 50 years of decreased mobility throughout the country, we are seeing that local moves are becoming much less frequent. The distance moved can also explain the reasons for moving. Whereas a longer distance move is most common for job related reasons, a shorter distance move is associated with housing terms like a better or cheaper home.
Before the housing crisis, people tended to move for a better or bigger house, but during and after we saw an increase in moves for cheaper housing and decrease in long distance moves for job related reasons. But, regardless of mobility rates, the housing market is normalizing with US housing on a 17-month consecutive upswing. As the recovery continues, mobility will too.
How do you feel about the currently deflated mobility rates in this country? Do you see this as a viable contributor to home sales throughout the US?
Be sure to leave us your thoughts in the comment section below.
Photo Courtesy of Andre Mondou’s Flickr