Allied Van Lines just released their Magnet Report for 2023, which reflected and showcased key moving trends over the past year and gives us a look into what 2024 might bring for the ever-changing world of moving. As a respected Allied agent, Reebie Storage and Moving Co. carefully looked at past moving trends to see how people’s choices of where to move and when to leave have changed over time. This detailed study gives information about moving and immigration patterns across the whole country, including states which experienced the most inbound and outbound moves.

2023 Moving Trends in the US and Economic Influences

The number of interstate moves kept going down in 2023, falling by 12% from the year before. Mortgage interest rates have fluctuated over the past two years, which is what caused this falling trend. Additionally, the spike in interest rates in 2022 saw them at their highest since 2002. In 2023, rates went up and down between 6% and 7%, which probably stopped people from buying homes because of the higher costs and led to fewer moves between states overall.

Aside from changing mortgage interest rates, the US economy was also affected by the following moving trends in 2023:

  • Rising Home Prices: Due to higher demand, building costs, and limited supply, the pandemic led home values to rise dramatically. The Case-Shiller U.S. National Home Price index shows that home prices have gone up 18.6% in the past year.
  • Rental Prices Went Up: After going down at first during the pandemic, rental prices went up again and now are higher than they were before the pandemic. This could make people move in search of cheaper places to live.
  • Housing market Dynamics: The big gap between the number of homes for sale and the number of people who want to buy them has grown since February 2020. This has probably affected prices and people’s ability to move, especially in areas where homes are in high demand.
  • Inflation and Household Wealth: The value of homes went up, which made neighborhoods less affordable. This had a big effect on inflation, which in turn had a big effect on family wealth and overall affordability.
  • The national average price of a home: In 2023, the median home price across the country hit $402,600, which was 8.5% more than the previous quarter. This rise, along with higher monthly mortgage payments and higher family incomes needed to qualify for mortgages, shows how hard it is for people who want to buy a home to get the money they need.

States and Cities in Demand in 2023

South Carolina (65%), Arizona (61%), Tennessee (61%), North Carolina (60%), and Florida (52%), were the places where people were most interested in moving in 2023. People are attracted to these states because of strong economies, nice weather, and growing job markets. This makes them always appealing places for people to move to.

When people were asked which city they would like to move to, 70% said Charleston, SC, making it the clear winner. With 70%, Tucson, AZ came in second. Charlotte, NC came in third with 68%, Nashville, TN came in fifth with 57%, and Phoenix, AZ came in fourth with 54%. People like these places because they have strong economies, better quality of life, and generally easier ways to live.

States and Cities with the Highest Outbound Residents

The states with the lowest rates of people leaving were, in order, Illinois (64%), California (60%), Pennsylvania (57%), Michigan (57%), and Washington (55%). This pattern is often seen because of things like high costs of living, economic problems, and sometimes weather problems.

In terms of places, the most people leaving were from San Diego (66%), then from Chicago, IL (64%), Seattle, WA (61%), Detroit, MI (60%), and Los Angeles, CA (60%). An awful lot of things could have caused people to move, like the cost of living, the job market, and city issues like crime and traffic.

Reebie Storage and Moving Co.: Best Residential Movers in Chicago

Compared to other Chicago moving companies, Reebie Moving and Storage Co. provides a stress-free moving experience built on trust and knowledge. With a customer-centered method, we put your happiness first. The pros on our team have a lot of experience. Our state-of-the-art buildings ensure the safety of your belongings during local moving Chicago, interstate, and international moves. Your things are handled with care by our skilled and trained staff, who stress being honest about prices and giving you solutions that are tailored to your needs.

Seamless Moves Await – Contact Us Today

Experience an effortless moving journey with Reebie Storage and Moving Co., one of the top Chicago long-distance moving companies. Whether you need local or international moving services, our adept staff are dedicated to ensuring a smooth process. Choose excellence – choose Reebie. Contact us now for a consultation and discover the unmatched service of your premier moving company.