Migration and mobility statistics from Corelogic reveal where Millennials and Baby Boomers are buying homes.
The Corelogic Insights Blog reports that in 2016, Texas had the most Millennial in-migrants and Florida had the most Baby Boomer in-migrants.
Young adults were drawn to Texas by job opportunities, cheaper homes, and lower costs of living. Florida was appealing to older adults because of its warm weather, proximity to beaches, affordable homes, and lower taxes.
According to CoreLogic data, homebuyers from high-cost states, such as California and New York, moved to more affordable states, such as Florida, Texas, Arizona and the Carolinas in 2016. California had the largest number of out-migrants in 2016, followed by New York and Virginia. In contrast, Florida had the largest number of in-migrants in 2016, followed by Texas and North Carolina.