2021 Study: Do People Actually Regret Moving?

Publish Date: June 3, 2021

Last Modified Date: July 11, 2023

Tags: Tags: 2021, 2021 study, buying a home, cheap movers, do people regret moving, good movers, hireahelper, movers, moving, moving data, moving numbers, moving statistics, moving stats, moving study, moving survey, new home, porch, real estate study, regrets, searching for home, shouldnt have move, study, survey

Key Findings

Despite some regrets, 82% of respondents admit that moving has changed their life for the better
30% of Americans that we surveyed regret at least something about their move
People who moved due to COVID are most likely to regret their move (31%)
Among those who regret their move, “moving away from their friends” (49%) and “leaving the area they used to live in” (40%) are the top regrets
A quarter (26%) of people regretting their move felt that way immediately after moving
Regretting their moves, 15% of respondents are considering moving back to where they used to live
Location (51%), size (41%), and layout (38%) of home are most appreciated aspects of new home

Do people actually regret moving? Whether moving for a new job or to retire, moving in with a significant other, or moving back in with your parents, there are many factors at play for making the big jump.

This is why it seems perfectly natural that no matter how hard we prepare for our move, we might regret something about it afterward.

And yet, most Americans who moved in the last year don’t regret their decision. In fact, most believe it made their life better, despite some reported complex feelings from those who did end up regretting their moves.

Read on as we break down our most recent survey of over 1,200 people who moved over the last year.

A Regret Shared: Almost One in Three Americans Who Moved Have at Least Some Regrets

While most of those who moved in the past year don’t look back, about a third (30%) have at least a few regrets about their move.

Millennials are the least pleased with their move, as 37% of them regret at least something about it—more than any other generation. Gen Z, on the other hand, is a lot more optimistic, as only 27% of them found something regrettable about their move.

Why people move might also have an effect on whether they regret it. Those who moved due to COVID, for example, are more likely to experience regret (31% versus 22%).

Similarly, those who moved in search of cheaper housing are somewhat predictably more likely to regret their move (33%) versus those who moved to a new and better home (19%).

Leaving Friends, Neighborhood, and Family: America’s Biggest Moving Regrets

People often claim they don’t like their living situation (e.g., rent cost, landlords). But what does the data say?

In truth, moving is more of a complex trade-off. Moving somewhere for work or study sometimes comes at the price of moving away from family; moving to a bigger, better home often means exchanging a bustling, vibrant city for quiet suburban living.

“While most of those who moved in the past year don’t look back, about a third (30%) have at least a few regrets about their move.”

So it’s no surprise that Americans reported these factors (over bad landlords!) as the most regrettable aspects about their overall move. According to respondents who reported having regrets about their most recent move, nearly half (49%) list moving further away from friends over all stated reasons.

Meanwhile, some 40% miss the area they used to live in, while 38% have regrets about moving further away from family, the latter likely exacerbated by the restrictions on family gatherings brought about by moving during the COVID pandemic.

Nearly a quarter (23%) of those who regret moving feel that way because it meant leaving their previous home. This sentiment is most common among those who moved to save money on housing costs.

But other moving regrets are less sentimental and more tangible. For 30% of people who claim to regret moving, it’s not where they chose, but how much they paid for the move that added to their disappointment. And for roughly 10%, it’s the choice of moving company they wish they could do over. (It literally pays to do your research.)

Instant Regret: A Quarter of Americans Who Regretted Their Move Knew It Immediately

When you know, you know, as the old saying goes. As many as 26% of Americans who have regrets about their move developed that feeling straight away. An additional 9% developed regrets after a week. Meanwhile, it took 26% one whole month to realize their newfound predicament.

That New Home Feeling: What Americans Like and Dislike About Their New Homes

Judging by our survey, if there’s one thing Americans make sure their new home delivers on, it’s location. Over 60% of those surveyed reported liking where their new place is, while only 9% aren’t happy with it.

“Millennials are the least pleased with their move, as 37% of them regret at least something about it—more than any other generation.”

Home size (41%) and layout (38%) are the second and third most appreciated aspects of a new residence, while roughly a third pointed out they’re happy about the amenities in their home (32%) and the local area (30%).

The most common dislike with regards to the new place was financial. Almost one in five (19%) Americans who moved in the past year aren’t happy with the cost of their new home. In fact, people who moved specifically to save on housing costs are most likely (69%) to be unhappy with what they’re paying in rent or mortgage for their new place. Knowing this, it’s vital to make sure you compare the moving services in your area for the best possible price.

The Right Move: Despite Regrets, Most Feel Their Move Changed Their Life for the Better

More than 8 in 10 (82%) Americans who moved in the last 12 months feel that the move changed their life for the better. Even 77% of those who have some regrets about their new home or how the move went seem to believe it was the right thing to do.

Much like with regrets, people who moved for certain reasons felt differently about the impact their move had on their life in general. For example, a reduced 69% of those whose move was forced by COVID felt the move affected them positively.

People whose primary reason for moving was a new or better job are also less likely to feel that way—only 68% of them felt their move had a positive impact on their life.

A small minority (5%) felt the opposite way, saying that moving made their life worse. Only about one in ten (13%) admitted moving didn’t really make a difference to them one way or the other.

Most people have difficulty with coping with and embracing change, even if change is for the better. This is probably why many Americans who moved in the last year have at least a few regrets about their decision, even though the data overwhelmingly suggests moving makes people’s lives better on the whole.

Sources and Methodology

All the figures referenced above are based on a multi-question survey of 1,253 Americans who booked and completed a verified move using HireAHelper.com within the last 12 months.

Illustrations by Nero Hamaoui

Study: What The Great Recession Tells Us About COVID-19’s Potential Impact on the Moving Industry

Author: Volodymyr Kupriyanov

Publish Date: April 16, 2020

Last Modified Date: May 27, 2020

Category: Moving Advice, Moving Industry News

Tags: Tags: covid-19, great reession, moving data

There’s an overwhelming uncertainty about the effect the COVID-19 pandemic will have on the US economy. This uncertainty is echoed in the moving industry, where according to our recent survey, over 80% of moving companies are worried about the future of their businesses (see Are Moving Companies Open? for updates on who’s still offering moving services).

And no wonder: almost three-quarters (74%) of them have already seen moving jobs cancelled, while 72% noticed an overall decrease in business.

Are they right to be worried long term? Just how much business does the moving industry stand to lose due to this pandemic? And how much revenue and how many jobs could be lost in this COVID-19 crisis?

To answer these questions, we looked at how the moving industry fared through the most recent economic crisis in the US: the Great Recession of 2008-2009.

We combined the data of the Great Recession with the most recent projections of unemployment and economic downturn to estimate the impact COVID-19 might have on the future of the moving industry.

Study Summary

Based on the combination of findings from an AMSA-commissioned study of the Great Recession and recent economic projections from Goldman Sachs and Bloomberg’s Survey of Economists, we estimate that the moving industry could lose between $1.5 and $2.5 billion dollars in revenue. That’s between 12.2% and 19.9% of its current revenue, based on America’s Moving and Storage Association’s (AMSA) estimates on how large the moving industry is today.

In addition, the current pandemic-related economic crisis could mean the following for the moving industry:

Closures of between 880 to 1,400 companies (12.7% to 20.7% of current estimates)
A loss of between 11,500 to 18,900 jobs (9.4% to 15.5% of the current workforce)
Payroll reduction between $300 to $490 million (8.3% to 13.6% of current industry payroll)

Based on the drop in the number of people moving during the last recession, the industry could see an estimated 6% to 9% reduction in demand for moving services in 2020.

Lessons for the moving industry from The Great Recession

Last time the US faced a financial crisis of this current magnitude was in 2008, when the subprime mortgage crisis and the failure of financial institutions plunged the country into a recession.

“Taking into account the toll the 2008-2009 crisis took on the moving industry in terms of revenue, number of establishments, jobs, and payroll, based on current economic projections, the toll is likely to be similar this time around.”

According to a related 2012 study of the moving industry in the years of the Great Recession (which we note was commissioned by the American Moving & Storage Association), it took until 2011 for the industry to recover – that’s about four years. “Recovery” as operationalized by this study means “a return to growth in revenue, employment, number of companies in the industry”.

Based on AMSA’s study, at the peak of the recession (i.e., 2008-2009), our key metrics fell by:

Revenue: -16.5%
Establishments: -17.2%
Employment: -12.8%
Payroll: -11.3%

Within the same period, the US recorded a peak unemployment rate of 9.5% and a 4.2% drop in GDP, signaling an extremely difficult time for the economy and the country.

How these industry-specific and broader metrics behaved during the recession of 2008-2009 allows us to estimate what the COVID-19 pandemic may cost the moving industry in 2020.

Predicting the unpredictable about the 2020 crises and beyond

To assess the impact of the COVID crisis on the moving industry, we started with the same two metrics we measured for the Great Recession: change in the GDP and unemployment rate.

Here are the drops in GDP and peak unemployment rates for the Great Recession, followed by Goldman Sachs and Boomberg’s estimates for the COVID-19 pandemic.

Unlike with the Great Recession, these 2020 figures are limited to three months. (And while some projections are wrong more often than not, that’s all we have to go on so far.)

We took our projections on these metrics from two reputable sources: Goldman Sachs and Bloomberg’s survey of economists. While both predict an approximate 3.5% decline in GDP in 2020, compared to 2019, Goldman Sachs is a lot more optimistic than Bloomberg’s panel when it comes to the unemployment metric.

Armed with these figures, we aimed to answer the following question:

If during the Great Recession the moving industry lost 16.5% of its revenue, what can we expect based on the projections for COVID-related economic crisis?

Taking into account the toll the 2008-2009 crisis took on the moving industry in terms of revenue, number of establishments, jobs, and payroll, based on current economic projections, the toll is likely to be similar this time around.

What the moving industry could see going forward. (HireAHelper)

Beyond the immediate impact, a worrying trend

If the Great Recession is any indication, it could be up to four years before the moving industry rebounds to its previous rates.

The number of people moving in the US every year has been on a steady decline since the mid-90s.31.4 million people moved in 2019 – almost 1 million fewer than the year before.

Top reasons for moving last year were:

New or better home: 17.0%
New job or job transfer: 12.1%
Establish own household: 11.4%

The top reasons for moving in 2019, based on our study of over 25,000 moves in 2019, were all for reasons that will be heavily impacted by a crashed economy. It’s difficult to imagine a scenario where forces behind these reasons (e.g., job creation, the housing market) all experience a quick recovery. Last time we were in a recession, the number of people moving dropped almost 10% year-over-year.

Based on current economic projections, we estimate the number of people moving could be between 6% and 9% lower in 2020 than the year before.

The moving industry is hoping for the best, preparing for the worst

Comparing the consequences COVID-19 pandemic will have on the economy to the recession of 2008-2009 is, of course, speculative. And whereas the finance industry seems to be divided over how strongly the coronavirus pandemic will affect the nation’s economy, they seem to agree on one thing: much like the impact of the Great Recession, the impact of COVID-19 will be negative.

Still, at the moment, it’s impossible to rule out either “rapid recovery” or the “deep recession” scenarios. A quick recovery is exactly what some companies in the industry are hoping for.

Ben Cross of University Moving and Storage Co, an agent of the North American Van Lines tells us, “April is trending about 60% down for our corporate business, but we expect that to come back in June.”

He adds, however, that the comeback depends on “whether 100% of the moves that didn’t happen in March, April and May end up moving at all”.

Like many other questions, this one will be answered when the true effect COVID-19 has on the economy, including house sales and jobs creation which are both big drivers of people’s moves in the United States, is revealed.

Until such time, we can anticipate the COVID-19 to have an impact similar to the Great Recession of 2008-2009, while holding out hope it won’t be as profound this time around.