TAMPA, Fla. – As the year winds down, many families are focused on slowing things down and spending time together. But for one moving company in the Tampa Bay area, this December is anything but quiet.

While the holidays are traditionally the slowest time of year for movers, 2 College Brothers Moving and Storage said this is its busiest December in 15 years, driven by easing mortgage rates and renewed movement in the housing market.

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What they’re saying:

“We had over 90 hours in overtime last week,” said owner Wade Swikle.  “Typically, it’s really slow this time of year.”

Inside the warehouse, trucks are constantly loading and unloading, with crews making deliveries across the region.

“It’s a combination of factors, but the interest rates tend to be the biggest driver in both real estate and moving, in the moving industry,” said Swikle.

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Mortgage rates have started to ease, which is improving affordability for some. Economists said even modest drops in mortgage rates can have an outsized impact on buyer behavior.

“That’s actually the first year-over-year decrease in mortgage payments on the median-priced home since 2020,” said Jake Krimmel, senior economist at Realtor.com.

By the numbers:

Here’s the latest on mortgage rates nationally — a key economic factor driving buyer interest:

30-year fixed mortgage: The average is about 6.21%, which is down from about 6.7% a year ago, according to Freddie Mac’s weekly survey.15-year fixed mortgage: The average is about 5.47%, according to Freddie Mac’s weekly survey.

Some lender surveys show the 30-year rate hovering around mid-6% (about 6.26–6.33%) and 15-year at about 5.6-5.7% annual percentage rate, according to Bankrate.

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Lower rates are helping ease affordability pressures for some buyers — enough to get people moving again after a long pause.

Dig deeper:

Swikle said they’re seeing every type of move:

Renters jumping back into homeownershipFamilies upsizing or downsizingPeople who moved to Florida during the COVID-19 pandemic heading back to seasonal climates.Plenty of new residents still moving into Tampa Bay.

It’s all welcomed news for moving companies, who’ve seen a slower last few years.

“About halfway through 2023, when interest rates peaked, everything just kind of ground to a halt for the last year and a half,” Swikle said.

What’s next:

Now, business is picking up fast enough that the company is hiring during its off-peak season and even looking for a bigger warehouse.

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“We need to hire people, and we need to get a bigger space, because we’ve outgrown it,” he said.

Home prices are expected to keep dipping. According to Realtor.com projections:

Sarasota and Bradenton are expected to see the second-largest price drop in the country, down 8.9%.Tampa and St. Petersburg home prices are projected to dip 3.6%.

Krimmel said the market could finally stabilize next year: “2026 is going to be a year that housing looks to get back on track.”

Thinking of moving during the holiday season? 

It might actually help. 

While moving during the holidays can feel chaotic, Swikle said now through February is actually one of the best times to move. It’s considered the off-peak season — meaning lower prices and more experienced moving crews, because there are fewer seasonal workers than during the busy spring and summer months. 

The Source: The information in this story was gathered through interviews with 2 College Brothers Moving and Storage owner and a senior economist at Realtor.com. 

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