A just-released analysis of homebuyers’ first names by ATTOM Data Solutions pinpoints which generation is becoming the most active in real estate:
- The biggest percentage increases in homes purchased in 2017 were buyers with first names popular among millennials i.e. Dylan, Chelsea, Austin, Alexandra and Taylor
- Conversely, the biggest decreases were by buyers with first names popular among Gen-Xers, the silent generation and Greatest Generation — Gerald, Kristin, Stanley, Kurt and Jaime — which spiked in popularity as baby names at various times between 1916 and 1976.
Read on below for more real estate news. Especially interesting to see which states people are moving to these days (it’s not where you think!).
HEY! WHERE’S EVERYONE MOVING?
What I found most interesting about the top inbound states is how sparsely populated and how outdoorsy they are: Vermont? Oregon? Idaho? South Dakota? Colorado?
And since I am a New Yorker, I was, of course, appalled to see the New York exodus continue:
- New York State has ranked in the top three outbound states for seven years in a row.
- Only two states had higher rates of exodus: Illinois and New Jersey
Residents gave four main reasons for moving out of New York State:
- One in four say they’re leaving New York because of retirement
- 5% cite health reasons
- 18% cite lifestyle changes.
- Almost half say they leave for jobs, but a similar number of inbound customers are moving to New York for jobs.
TOP INBOUND STATES:
5. South Dakota
7. South Carolina
8. North Carolina
TOP OUTBOUND STATES:
2. New Jersey
3. New York
BUT FOR THOSE REMAINING IN NYC:
Uber and Lyft are changing where wealthy people buy homes
Per Compass, buyers have become more neighborhood agnostic than at any other time in history.
- Ride-sharing makes it easy for luxury buyers to get from place to place without losing productivity.
- As a result, buyers are looking at apartments in SoHo, Hudson Yards, Upper East Side, and Tribeca.
Bottom Line: Time is the last luxury. If you can not lose time, you can live in many places.