What’s in a name?
Proof of a shift in who is buying homes, according to a new real estate study that tracked the first names of home buyers nationwide in 2017.
The number of buyers with popular millennial names is climbing nationally, while buyers with top Gen-X and baby boomer names are declining.
In Arizona, buyers with the first name Lindsay posted the biggest increase in sales – 115 percent last year, according to national data firm ATTOM Data Solutions.
Lindsay peaked in popularity for baby names in 1983, according to the Social Security Administration. That potentially means more older millennials are buying metro Phoenix homes.
Nationally, homebuyers named Dylan posted the biggest increase, according to the four million home sale records ATTOM analyzed.
Dylan, which like Lindsay can be for a boy or girl, jumped in popularity around 1992. Homebuyers named Dylan posted the third highest increase – 72 percent – in Arizona last year.
Dylan was the top name for increases in buyers in Texas, Colorado, Michigan and Pennsylvania last year.
In Arizona, buyers named Greg had the second highest increase – 95 percent - in home sales during 2017.
Greg was a popular baby name for Gen-Xers and late baby boomers, which makes sense since the Valley has a lot of move-up and young retiree buyers.
Caleb, which spiked in popularity among baby names in the late 1990s, topped the ATTOM list in California and Tennessee. That name didn’t crack Arizona’s top 20.
Housing market watchers are on the lookout to see if Millennials will buy homes at the same rate of their Gen-X older siblings or baby boomer parents.
Homebuyers named Edwin and Carol dropped the most in Arizona last year – about 35 percent.
Nationally, Gerald, Kristin, Stanley, Kurt and Jaime - which like Edwin and Carol were popular baby names between 1916 and 1976 - declined among homebuyers the most.
There’s no exact science to track how many millennials are becoming homeowners since buyers aren’t required to list their ages on most real estate records. But this research is definitely an interesting look at home sales I haven’t seen before.
Source: ATTOM Data Solutions