Real Estate Trends

What Does U-Haul Have to Do With Real Estate Trends?

So what does U-Haul have to do with real estate trends? Quite a bit actually.

Think about it. What is the main purpose of a person who uses U-Haul? To move from one place to another! Why is this important? Because U-Haul bases their rental rates on many factors, but among the factors is the amount of demand for moving vehicles to or from a specific city.

Here’s a quick little secret that is kind of cool to use from time to time. Of course, this is not always the best indicator, but it really does work. This secret helps you find out what cities people are migrating to and from, which helps you to get a better picture of the population growth before the next census comes out.

 

You can see these trends through the “Unofficial Migration Indicator” at www.uhaul.com. Check out the cost of a one-way rental for any given city and any other city. Lets consider the cost of renting a small truck between San Diego, CA and Phoenix, AZ. It cost $225 to rent to from San Diego to Phoenix but only $101 to bring it back! This means that there are probably twice as many people moving out of San Diego and into Phoenix than the other way around. This is basic supply and demand. So you want to make sure that the price is constant both ways or in your favor.

Kind of a cool trick to use from time to time if you are unsure about the direction of growth in a specific market. Let us know if it works for you and what you think about this tip. If you like this tip email it to your friends!

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