Moving companies backlogged with more Americans relocating

A new article from Realtor Magazine highlighted the challenges home buyers are likely to face when trying to book a moving company. Seventy-one percent of moving companies reported delays last year due to high demand and staffing shortages. This is according to a new survey from moveBuddha, a moving company resource.

Almost half of moving companies are booked up for at least three weeks, according to the survey and 16 percent report having to schedule moves more than six weeks out.

The cost of moving was also higher in 2021 than in previous years. About 70 percent of moving companies say they’ve raised rates in the last year, largely in response to needing to raise wages and pay more for fuel.

Today, conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via, social media (#AramcoReport), or over the phone at (877) 700-0942 and your questions may be featured in an upcoming article.