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These Buyers Will Drive Home Sales in 2019 and Beyond

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Posted by: Jordan Pickering on Wednesday, January 30, 2019 at 6:00:00 am

The faces behind home sales are changing quickly, and while the Hannahs and Austins still have a long way to go to catch up with the Michaels and Johns, they are closing the gap. Buyer data on home sales for the first nine months of the year not only reveals a fun mosaic of names participating in today’s housing market, but also a sneak preview into key emerging trends. The analysis, while limited in interpretation, uncovers a story of sales increasingly skewing toward three key demographics: Millennials, Women, and Hispanics. Names associated with these groups are taking a larger share of all sales, and rapidly changing the landscape of the U.S. housing market. If these buyers can continue breaking through the affordability barrier, we should expect them to emerge further in 2019 and dominate the market in the years to come. Learn more about the methodology here.

 Highlights

  • Hannah, Austin, Alexis, Logan, and Taylor were the top five homebuyer names with the fastest levels of sales growth in 2018, with all seeing 19-23 percent increases over last year. Michael, John, David, James, and Robert were the top five names by sales volume, but all saw 3-5 percent declines over last year.
  • Sales with Millennial names increased while sales with Boomer names decreased, up 5.3 and down 2.0 percent year-over-year on average respectively. The top 20 fastest growing names were associated with populations peaking in the 1980’s and 1990’s.
  • Sales with female names increased while sales with male names declined, up  1.6 percent and down 0.1 percent year-over-year on average respectively. Three of the top five, and 10 of the top 20 fastest growing names were predominantly female.
  • Sales with Hispanic names increased while sales with non-Hispanic names remained virtually flat, up 4.1 and down 0.1 percent year-over-year on average. One in four of the top 100 fastest growing names are traditionally of Hispanic origin.

 

Read the full article here.

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