2024 New Movers Continue to Bypass 2023’s Numbers MoM
Cleanlist identified 68,136 new movers in Canada this past June. There was a 36.4% increase YoY from June 2023 to June 2024 and a minor 6.9% decrease MoM from May 2024 to June 2024.
New Movers Numbers Similar to August 2023
Canadians typically list their homes in the spring or late summer, taking advantage of the prime showcase season and perfect moving weather. Since COVID-19, things are anything but consistent.
Are the warmer seasons still prime time to sell or move? Of course.
As mentioned above, June 2024’s new mover count is not far off from August 2023’s 68,435 new movers. We have continued to see spikes from late spring into the fall when it comes to new mover metrics. However, recently we’ve reported sporadic spikes in new mover counts during other unlikely months as well in the past 12 months.
For instance:
October 2023: 61,260 new movers
January 2024: 68,347 new movers
So what is with the random peaks and valleys of movers?
One could assume that with inflation and the state of the economy over this past year, homeowners are unsure of the best time to make the move to A) Get the best deal on a new home, B) Get the best value out of the house they are selling or, C) Minimize the financial risks associated with buying and selling in an unpredictable market.
Other June 2024 statistics:
- All provinces saw an increase in new movers from June 2023 to June 2024.
- The provinces that saw the biggest increase in new movers from June 2023 to June 2024 were Newfoundland (147.1%), New Brunswick (131.5%) and Manitoba (62.3%).
- The only provinces to see a decrease in new movers from May 2024 to June 2024 were Quebec (20.8%), Ontario (8.2%), Newfoundland (6.4%) and New Brunswick (2.7%).
- The provinces that saw the biggest increase in new movers from May 2024 to June 2024 were Northwest Territories and Nunavut (71.4%), Saskatchewan (33.3%) and Manitoba (32.4%).
Why Mover Data Matters
Consumer spending drives sales across many industries and we’ve gathered that spending accelerates significantly for consumers on the move. Some studies report that new movers increase their spending by as much as 10x during the move cycle which lasts between two and six months. Savvy marketers understand this behaviour and put their marketing dollars to work to win more business.
In addition to the obvious packing and moving costs, new movers spend money in three main areas: home improvement, household management, and neighbourhood integration.
Money spent on home improvements typically includes renovations, furniture and appliances, paint, flooring, window coverings, decorating, alarm and security systems, decks, landscaping, roofing and siding, and HVAC systems.
Money spent on household management decisions is less obvious, but also important to new movers. They tend to review and reconsider their spending on things like insurance, financial planning and investments, internet and communication services, energy consumption, and even new vehicles.
And finally, money is spent on neighbourhood integration. New movers tend to change their shopping and entertainment habits while seeking out new stores and services in the neighbourhood for groceries, household supplies, landscaping and snow removal, child care, restaurants and entertainment venues.
Knowing who these new movers are gives marketers a huge competitive advantage by being the first to offer welcome deals, trials, information and other promotions. As we all know, the first to establish a relationship is often the winner of a long-term and profitable customer.
