Author: Annette Malave, SVP/Insights, RAB
Entering a new year, people will often do something new or make a change to start fresh. What better way to start fresh than to move?
Moving is stressful – ask anyone who has done it recently. There are so many things to do and for so many reasons. So why do people move? Housing and family are the top general reasons.
According to U.S. Census Bureau data, the top reason that people move has to do with where they live. People want newer, larger or better dwellings, and in 2022, home ownership, versus renting, was the goal. Family-related issues are the second most common reason. People wanted to set up their own ‘households,’ or they had other reasons like changes in their marital status.
Things changed in 2023 as we all well know. The Great Resignation began to dwindle with the ebbs and flows of the economy. A recently released study points to a shift in some behaviors. In 2023, the top reason for moving was for a new job or company transfer (29%) followed by being closer to family (27%). Interesting enough is that retirement was selected only by 14% of respondents – lower than the 20% from 2018-2022.
Using a medium that reaches adults who are on the move or considering a move serves as great foundation for moving companies and realtors. No other medium reaches more people on the move than broadcast radio. Seventy-eight percent of adults who listen to radio plan on moving within a year. These radio listening adults are home buyers (81%) and sellers (83%), per Scarborough data.
If you are a business that wants to reach people who are (as the songs go) “movin’ on up” or “movin’ out,” use broadcast radio.