Eric Finnigan leads demographics research at John Burns Research and Consulting, helping clients in the housing and real estate industries understand demand based on demographic trends. He views demographics as a predictive tool, likening it to a crystal ball for future trends. His interest in demographics began around 2013-2014 while working for a capital allocator firm. He analyzed demographic data to predict shifts in housing preferences, such as Millennials moving from urban areas to more affordable regions. Finnigan has been in the housing market research field since 2007, gaining significant experience during the subprime mortgage crisis. His career has been shaped by a deep dive into demographics and housing economics.
Positive Housing Outlook: Rising Headship Rates
The headship rate, which is the percentage of adults who are heads of households, is a key indicator for understanding demographics and housing demand. A lower headship rate means that fewer adult individuals are living in primary residences.
The rising headship rate suggests a positive outlook for the housing market. It indicates that more adults are forming households, which can lead to increased demand for housing and support economic growth. This trend is likely driven by factors such as a strong job market, rising incomes, and changing demographics.
While the data for the second half of 2024 is still being analyzed, the current trend points towards continued growth in household formation and housing demand. This could have significant implications for the housing market, including increased home prices and rental rates.
Headship Rates in Oregon
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