Vol 1 - Janurary 11 2019
Single women are one of the fastest-growing demographics in the housing market, according to Realtor.com.
Although older baby boomer and silent generation women lead the charge, the increase in deeds with female names is particularly visible when comparing genders within the millennial generation.
Looking solely at names with a peak year between 1981 and 1997, millennial female names are outpacing millennial male names – home sales with female names beat male-name home sales by 1.5 percent (6.9 percent versus 4.4 percent on average year-over-year, respectively).
Seven of the top 10 fastest growing buyer names are predominately millennial female names; all of them peaked in the 1980s and 1990s.
Overall, Hannah, Austin, Alexis, Logan and Taylor – of which three are predominantly female names – were the top five fastest growing first names on home sale deeds in 2018, with their frequency seeing an average increase of 22 percent from 2017.
While Michael, John, David, James and Robert were still the top five first names on sale deeds by sheer volume, these names saw a 3 to 5 percent decline over 2017.
"First names associated with women – especially millennial women – saw a significantly faster level of home sales growth in 2018, giving us a sneak peek of homeownership trends in 2019," says Javier Vivas, director of economics research at realtor.com. "Hispanics and millennials names overall also saw a surge in home purchases last year. If these buyers can continue to break through the affordability barrier, they are likely to make up a larger share of owners than ever before and dominate the market for years to come."
Millennials are not the rent generation
In 2018, home sales with millennial names increased 5.3 percent, followed by Gen X names at 0.8 percent. Names of boomers (born 1946 to 1964) and the silent generation (born before 1945) fell 2 percent and 3.5 percent, respectively.
Geographically, millennial buyer names are particularly overrepresented in Kansas, Indiana, Louisiana, Missouri and Utah – states where housing affordability remains above national levels – confirming that jobs and availability of entry level homes act as magnets for young buyers.
The rising Hispanic influence
Deed data also shows a growth in Hispanic names. In 2018, home sales associated with traditionally Hispanic names and partially Hispanic names increased 4.1 percent and 3.7 percent, respectively year-over-year. While sales with non-Hispanic names remained virtually flat at 0.1 percent year-over-year.
Notably, 26 of the top 100 fastest-growing names are traditionally of Hispanic origin. Within this category, Hispanic buyer names skew slightly older than their non-Hispanic counterparts, with a median birth year of 1979 and 1982 respectively.
Geographically, Hispanic buyer names are concentrated in the South and Southwest. California, Texas, Nevada, New Mexico and Arizona are among the top states. On the East Coast, sales to buyers with Hispanic names are overrepresented in Florida, Illinois and New Jersey, where demand for homes from domestic and international buyers of South American and Caribbean origin tends to be concentrated.
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