The Chairman's Corner

By Jesse Chabot

March 2024

First, let me say NOW is the time to register for the 106th annual CMSA convention (registration forms are included with this issue), which will be held at the beautiful Hilton Waikoloa Village from April 30 through May 5. The Association has done its job in negotiating and planning a terrific convention that provides value to our membership! Don’t miss this opportunity to kayak and scuba dive, like me, or enjoy any of the many outdoor activities that Hawaii has to offer.

Now let’s talk about this lackluster start to the year. January and February have definitely traditionally been some of our slowest times of the year, and I think coming out of the pandemic, we had an important job to do because the last couple of years, it was nonstop. It didn’t matter what month it was. In a small way, we took that for granted, and we, as movers, got used to that. Now this year with inflation and rising interest rates, we are experiencing a slowdown in the housing market.

I think a down market and what should traditionally be a slow January and February are upon us. I believe that’s a good reason to always be diversified. If you’re just doing household locals, start looking into office moving and so forth. I think that’s a good reason to use CMSA as a resource. Talk to other members and see what they’re doing. Talk to members out of your area and ask questions. We all love the moving business and love to discuss the ins and outs of it.

On a positive note, the feds have signaled that they want to lower interest rates, but the group has signaled that they want to see more positive inflation data coming down before pulling the trigger. Real Estate industry source Norada reports the California housing market is expected to experience a rebound due to the decrease in mortgage rates. The forecast predicted a substantial increase of 22.9% in existing homes compared to 2023. Based on that and the fact that 90% of employers are now asking for some in-office hybrid of their workforce (work from home/work in the office), this causes a shift in offices and the need to keep office space. So hopefully, these two things combined will keep our industry strong.

March 2024 - CMSA Communicator