{"id":20929,"date":"2022-08-24T12:42:47","date_gmt":"2022-08-24T12:42:47","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20929"},"modified":"2022-08-24T12:42:48","modified_gmt":"2022-08-24T12:42:48","slug":"its-the-most-expensive-year-to-move-ever","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/its-the-most-expensive-year-to-move-ever\/","title":{"rendered":"It\u2019s the Most Expensive Year to Move Ever"},"content":{"rendered":"\n

It\u2019s the Most Expensive Year to Move Ever<\/p>\n\n\n\n

Aside from rising mortgage rates and home prices, buyers are being squeezed by another escalating expense: the growing cost of moving services. This year has become the priciest for hiring movers in the nation\u2019s history, according to a new study from HireAHelper<\/a>, a moving resource. Some states and metros are seeing costs rise by nearly 40% year over year.<\/p>\n\n\n\n

The average cost of a move was $427 nationwide in May, about 15% higher than a year earlier, the study shows. Ballooning gas prices, supply-chain disruptions and 40-year-high inflation are primarily fueling moving expenses, says Nadia Evangelou, senior economist and director of forecasting at the National Association of REALTORS\u00ae. \u201cThis means that people need to spend more of their budget on housing,\u201d she adds. \u201cThis additional cost may discourage people from moving, resulting in an even lower mover rate in 2022.\u201d<\/p>\n\n\n\n

The demand for moving services has climbed with the rising homebuying and rental markets over the past year, leading to disruptions in availability. In 2021, 71% of moving companies reported delays<\/a> due to high demand and a labor shortage, according to industry data. \u201cThe moving industry is feeling the impact of the current economic climate, and it\u2019s creating a perfect storm for customers looking to relocate,\u201d says Miranda Marquit, chief data analyst at HireAHelper. She equates the current environment to a \u201cfinancial flash flood for those who made plans to move this summer\u2014potentially washing them out.\u201d<\/p>\n\n\n\n

These areas of the country are seeing the biggest jumps in moving costs:<\/p>\n\n\n\n