Millennials Are Driving Housing Market
Know anyone named Dylan, Austin or Taylor who has purchased a home lately? How about Cameron in Florida?
A just-released analysis of homebuyer first names breaks down the most popular in 2017 and sheds light on which generation (Millennials) is becoming more active in buying homes.
The analysis is by ATTOM Data Solutions, which tracks national property data.
“The original idea for the analysis came from lists of the most popular baby names each year,” said Daren Blomquist, senior vice president. “We thought it would be fun to provide a similar list of homebuyer names."
In contrast to Millennials, Gen X-ers (born 1965-1979), the Silent Generation (born 1925-1945) and the Greatest Generation (born 1910-1924) are becoming less active.
Millennials were born between 1980 and 1994, but experts differ slightly on the span.
"We suspected that such an analysis might uncover something interesting about trends in the housing market as well, and we believe it does show Millennials are finally starting to buy homes in greater numbers," Blomquist said.
The biggest percentage increases in homes purchased in 2017 (compared to the year before) were by buyers with first names popular among Millennials — Dylan, Chelsea, Austin, Alexandra and Taylor — all of which spiked in popularity as baby names between 1992 and 1995.
Chelsea and Alexandra were among the names with the biggest increases nationally, but were not tops in any particular state.
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.
The biggest increases by homebuyer name vary by state. (Cameron was first in Florida).
Here’s a sampling of names that appeared as tops in more than one state:
Dylan: Michigan, Pennsylvania, Texas, Colorado.
Austin: Indiana, Kentucky, South Carolina, Oregon.
Taylor: Wisconsin, Maryland.
Caleb: Tennessee, California.
And glancing at the most popular baby names in the past two years, can buyers named Liam, Noah and Ava be far behind?
Nova Homes of South Florida is building custom homes for Millennials, Baby Boomers, and all generations in Naples, Marco Island, and Golden Gate Estates. For more information call 239.307.6116 or visit www.novahomesbuilder.com.