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BUSINESS
Census Bureau

More Americans moving longer distances

Julie Schmit, USA TODAY
A mover walks into a truck in Medford, Ore.
  • Stronger economy means movers are busier
  • Many put off moves during housing downturn%2C recession
  • Data show Americans are moving longer distances than before

More Americans appear to be moving as a better economy and a stronger housing market take hold.

In January and February, 5.4% more households moved this year than last, based on data from the nine largest moving companies, says the American Moving & Storage Association.

For the same period a year ago, household moves were up 2.9% from 2011, it says.

The industry data underscore broader government data.

An estimated 36.5 million people 1 year and older moved in 2012, up from 35.1 million in 2011, the Census Bureau says. It put the mover rate last year at 12%, up from a record low of 11.6% in 2011.

Economic instability and weak home values have delayed moves.

Survey data from Mayflower, a large moving company, show that the average American moves six times in their adult life, but 49% of those recently surveyed said they put off moving since the housing bubble burst.

Of those who had delayed a move, 37% cited economic instability as the main reason, while 31% blamed the declining real estate market.

Millennials — those between the ages of 18 and 34 — are most likely to consider moving, the Mayflower survey says. About half of them say they'll consider it in the next year. Nearly a third of the 1,020 respondents said they'd consider moving in the next year.

Of the Millennial respondents, 34% said they'd be more likely to rent today, down from 55% five years ago.

For those planning a move in the next year, the most common reasons were to get to a new or better home or neighborhood.

Rising home values make it easier for some people to move. Home prices were up 8.1% in January from a year prior, according to the Standard & Poor's/Case-Shiller index. Existing home sales were also up 10% in February from a year ago, the National Association of Realtors says.

As the economy recovers, people are moving longer distances, says Jed Kolko, economist of real estate website Trulia.

All of last year's increase in household moves involved re-settlements in another county or state, he says. Meanwhile, there was little change in the number of moves to another house within the same county.

New jobs often require longer-distance moves, so the increase in cross-county and cross-state moves is a sign that more people are moving for jobs, Kolko says.

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