With the economy stabilizing, Americans are feeling, once again, the bite of the moving bug.
Nearly half of Americans (47%) say they feel more comfortable purchasing a home today than at any other time in the past five years, results of a new survey by Mayflower show. And nearly a third say they are now ready to make a move.
Compared to first quarter 2012, residential moves were up 16% in the historically slowest moving months — January through March.
The new data are also consistent with other national data showing continued rises in existing home prices and sales. Growth appears to be the strongest in the West, where the Mayflower data showed 54% of survey respondents are now comfortable purchasing a house.
The data reflect an easing of the wariness Americans have felt in recent years in the aftermath of the bursting of the housing bubble in 2008.
Among those now interested in searching for a new home within the next year, the survey showed the desire for a new or better home is the leading motive. Other important motives include a desire for a more attractive neighborhood and the desire to become a home owner.
Most mobile are the young, with half of Millennials (18-34 years old) more receptive to buying a home than renting and looking to move within the next year. While younger consumers would be more likely to move due to a change in employment or a growing family, half of adults over the age of 65 would consider moving in the next year because of retirement.