2022 HOUSING FORECAST

Where the different generations are moving.

With six of the top 10 millennial markets located in the South and two each in North Carolina and Texas, the top 10 millennial markets in rank order are: Austin, Texas; Des Moines, Iowa; Charleston, S.C.; San Antonio; Atlanta; Providence, R.I.; St. Louis; Winston-Salem, N.C.; Charlotte, N.C. and Spokane, Wash.

More geographically diverse than the best markets for its younger and older counterparts, the top 10 markets for Gen X in rank order are: Miami; Austin, Texas; Knoxville, Tenn.; Portland, Ore.; Boise, Idaho; Omaha, Neb.; Raleigh, N.C.; Phoenix; Salt Lake City and Boston.

Although it’s not surprising that eight out of the top 10 baby boomer markets are located in warm weather locales, the fact that the top two are cold weather metros might be. In rank order the best markets for baby boomers are: Pittsburgh; Lansing, Mich.; Knoxville, Tenn.; New Orleans; Birmingham, Ala.; Augusta, Ga.; Greenville, S.C.; Palm Bay, Fla; Jacksonville, Fla. and Tucson, Ariz.

Best millennial markets offer affordability, strong job markets and vibrant downtowns
The largest contingent of homebuyers, the millennial generation, spans 15 years, with the youngest 25 years old and the oldest having celebrated their 40th birthday in 2021. Migrational trends show that as millennials grapple with affordability amidst soaring home prices, many have spread their wings to smaller metros for a shot at homeownership.

Gen X markets provide career opportunities and family-friendly attributes at a cost
Aged 41 to 56, Gen Xers are statistically at the top of their careers and most likely to have school-aged children. The best markets for Generation X tend to skew pricier, but still offer relative affordability, available inventory, space without sacrificing career opportunities, good schools, an abundance of green space and family-friendly activities.

Top baby boomer markets are prime spots for those looking to shift their lifestyle 
Baby boomers, the generation born between 1946 and 1964, have handed in their resignations in record numbers since the start of the pandemic, providing the freedom to cash in on the equity they’ve amassed in their homes. The markets on this year’s list offer retirees affordability and tax friendly advantages that allow them to stretch their dollar further as well as access to good healthcare, strong diverse economies with part-time employment opportunities, culture and recreational activities.

 

Article credit to Knock via NEW YORK, Jan. 20, 2022 /PRNewswire/

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