Last week’s Weekly Real Estate News brought new insight into a trend that has been developing for some time. As patterns of domestic migration become more apparent, it looks as if age-related issues are having a more discernable effect on buyers’ geographical decisions—which provides food for thought about the likely direction home-buying demand might take in the coming months. For those contemplating selling their St. Cloud home, it made interesting reading.

The piece (“Baby Boomers and Millennials are Moving – But Not to the Same Places”) examined the geographical data included in this year’s first quarter housing figures. The object was to see what patterns would emerge showing differences in the preferences of different age groups. For members of the Boomer generation, Las Vegas, Phoenix, Tampa, and Orlando were among the most popular destination cities, attracting home buyers away from Washington, D.C., New York City, San Francisco, and San Jose.

In so doing, these relatively senior buyers’ choices contrasted significantly with the millennial populations’ “migration profile.” The younger group chose Austin overwhelmingly as their most preferred metro destination—followed by Cleveland, Tampa, Dallas, and Charlotte. The millennial migrants' most notable “outbound cities” were Los Angeles, Boston, Seattle, and, again, New York City and San Jose.

Banking economist Anna Zhou, who views domestic migration as a key theme shaping today’s housing market, found the data instructive. The destination cities that these groups chose could well show strength over the long term—even though the weakened sales levels caused by current interest rates tend to mask the immediate effect. Interpreting the data further confirmed a clear trend toward downsizing for the elder group, another contrast with the millennials—who are “just entering their prime home-buying age.”

Closer to home, whether boomers or millennials wind up buying your St. Cloud home, the gold standard for maximizing its market value remains: identify and cure defects and deferred maintenance areas, declutter and depersonalize—then market using well-staged, exquisite photographs. Boomers and millennials alike will flock to your listing—and with me as your representative, the coast will be clear for productive negotiations and a swift closing. 

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