New Mover Count Reaches 2024 Peak in May
As spring progresses, the number of new movers continues to increase. Cleanlist identified 73,152 new movers in Canada this past May. There was a significant 37.9% increase in MoM from April 2024 to May 2024 and a 36.9% increase YoY from May 2023 to May 2024.
The weather wasn’t the only thing heating up this May!
New mover counts rise to record-breaking numbers for this year. In all of 2023, we did not see the number of new movers reach as high as 73,152. The closest number to this large count was 68,435 new movers in August 2023.
What’s next?
As of June 5, 2024, The Bank of Canada reduced mortgage rates from 5% to 4.75%. Although for homeowners, this decrease may not mean much, it will come as a relief to homeowners who purchased at low rates during the pandemic and are struggling to pay their mortgages. More interested buyers will likely flood the market, however, this slight decrease in rates will be more of a bonus for indebted homeowners rather than potential buyers.
Other notable May 2024 statistics:
- Most provinces saw an increase in new movers from May 2023 to May 2024 with the highest increases coming from Newfoundland (132.3%), New Brunswick (126.2%) and Quebec (53.3%).
- The only provinces to see a decrease in movers from May 2023 to May 2024 were British Columbia (3.7%), Northwest Territories and Nunavut (30%), Saskatchewan (2.8%) and Yukon (32.7%).
- The provinces that saw the largest increase in new movers from April 2024 to May 2024 were New Brunswick (155%), Newfoundland (154.9%) and Quebec (60%).
- Saskatchewan was the sole province to experience a decline (3.1%) in new movers from April 2024 to May 2024.
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.
