1. “Hot Pack” summer
If 2021 was the “Hot Vax” summer, then 2022 is looking like the “Hot Pack” summer. A Lending Tree survey of 2,100 people found that nearly 40% of Americans — some 132 million people — are considering a move this year and moving company moveBuddha estimates 70% of moves take place between May and August.
Younger generations and remote workers are the top demographics considering a move.
Forty-six percent of those considering a move hope to buy instead of rent – that’s more than 60.7 million people potentially settling into a newly purchased home in 2022.
Of course, there’s plenty of middle ground between considering a move and going through with one. moveBuddha found that only 8.4% of all Americans or 27 million people moved in 2021, the lowest rate in over 70 years.
It’s unlikely that 40% of the population will move in 2022, but we can safely expect 2022 to be a busier year for moving than 2021.
2. Elbow room is still a top priority
One pandemic moving trend that appears to have staying power is the desire for more space to work, play, and learn from home.
“My current home is too small” is by far the top reason Americans are thinking about moving in 2022, according to Lending Tree, followed by dreams of homeownership, and reducing housing costs.