The Moving Services industry has shown consistent growth with a Compound Annual Growth Rate (CAGR) of 1.1% over the last five years, resulting in a total revenue of $21.7 billion. However, the industry experienced a setback in 2023, which resulted in a 3.7% decline in revenue. Despite this, profits are expected to make up 7.9% of the industry’s revenue. A big contributor to the industry’s revenue increase has been the increasing housing market. The industry’s growth has remained strong due to the ongoing strength of the housing market, which has effectively sustained the demand for moving services. In particular, the years 2018 and 2019 witnessed high demand for housing, a trend fueled by increasing per capita disposable incomes and substantial wage growth. These economic factors led to a rise in home purchases, further illuminating the requirement for moving services. Take advantage of the high housing market and provide your services to the public.
