This post at NAA’s APTly Spoken blog provides some interesting insights as to why renters are moving less than they used to:
Finally, drilling down to specific housing-based moves for renters, a new or better apartment remains the number one reason for moving, but has slipped since 2000, along with leaving for a better neighborhood. Financial considerations have become increasingly important, with more than a fifth of renters moving for less expensive space last year.
With most analysts in consensus that this apartment housing cycle is past its prime, as evidenced by potential oversupply and peak pricing in some market segments, we may very well see renter mobility rates pick up somewhat in the coming years. Regardless of the fact that renters are actually moving less, the peace of mind that comes from knowing you can pick up and go for any opportunity life throws your way no doubt remains a compelling incentive for renting over buying.