November is looking good

Welcome to the self storage blog, where we watch the world of self storage.

November is turning out to be a busy month. Our call volume has been stronger than anticipated and our rental demand has also been better than anticipated. We are seeing better reservation activity than even this time last month.

We have also seen more activity from other companies. Traffic on our Want2Store site has been up during the first week in November. This is an indicator that people are looking to store. Other web locators for self storage have had a strong beginning of November, too. Other web sites have had some of the strongest traffic of the entire year in the last 9 days. This is not what you would expect in November.

Last year we saw some activity during the beginning of November, but not as strong as this. The activity stimulated by the hurricane season has tapered off some and most of this demand seems to be people organizing their homes or people who are moving.

There are two trends we are starting to notice that may be helping to spur rental demand. As home prices continue to escalate, many home buyers are not able to buy as much square footage this year as they would have been able to buy last year. This means people are moving in to a new home with more stuff than they have space. Good for us.

The prospect of not gaining space in a new house or the fear that prices may level off or weaken may also mean that people who were looking to “buy up” have decided to stay put and sit on their equity, rather than putting it into a bigger home. This means they will be motivated to reorganize or redecorate to make the old home seem new. Also good for us.

What are you seeing?

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.

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