March 2024 reports Canadian new movers lowest it’s been in a year
In March, Cleanlist identified 35,013 new movers in Canada, resulting in the lowest number of new movers in Canada over the past year. We noticed a substantial 36.3% decrease in new movers from February 2024 to March 2024 and there was a significant 40.3% increase in new movers from March 2023 to March 2024.
A major switch has happened from the start of 2024 to the present. Citizens are not selling, but they are not buying. We reported 67, 886 houses going up for sale in March 2024, and nearly half the amount of movers.
This past month the number of pre-movers is rising at a significant rate, however, the number of new movers is decreasing just as rapidly.
So where is everyone going? With the rising cost of living and the financial burden of increased mortgage rates, it is likely more individuals or families are selling and renting instead. Not to mention, the average age in Canada is continuing to rise, which could result in more sellers moving into retirement homes, family dwellings, or other long-term care facilities. On top of that, more and more young adults are continuing to stay at home longer to save money instead of renting, in hopes of affording a house sooner.
Other March 2024 statistics worth mentioning:
- All provinces saw an increase in new movers from March 2023 to March 2024, resulting in a 40.3% increase in new movers overall.
- All provinces saw a decrease in new movers from February 2024 to March 2024, with an overall decrease of 36.3%.
- The provinces that had the biggest increase in new movers from March 2023 to March 2024 happened to be provinces with smaller populations—New Brunswick (up 212%), Newfoundland (up 171.7%) and Northwest Territories and Nunavut (up 100%).
- The provinces that took the biggest hit in new movers from February 2024 to March 2024 were Ontario (down 44.6%), Nova Scotia (down 40.4%) and P.E.I. (down 37%).
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.
How to Get Started
Cleanlist compiles and organizes mover data daily for every province in Canada. Our team can tell you who the new movers are in any given geographic area (even small areas, i.e. within a driving radius of a store location) and set you up with a data subscription to receive a new mover list every month. Cleanlist can also connect you with a reputable marketing agency and mail house to help you develop your mail and get it delivered. The entire process can be automated and repeats itself with a very predictable and profitable outcome.
About the Data
The data presented in this report was summarized by Cleanlist from ResponseCanada™ Consumer, Canada’s largest and most up-to-date privacy-friendly consumer database. To learn more about the database or for licensing information, contact sales@cleanlist.ca.
Cleanlist is Canada’s largest customer data company. We clean, enrich, and validate business and consumer data. We’re also experts in data-driven document composition and Canada’s largest data provider for digital and offline marketing. To learn more, visit us at Cleanlist.ca.
