Real Estate
Home›Real Estate›Residential›Bank of America data shows fewer movers and more HELOC…
Bank of America data shows fewer movers and more HELOC-driven renovations
Bank of America Institute analysis links lower Q2 2026 mobility to more renovation financing, with Millennials and lower-income households showing the biggest pullbacks.
HousingWire reports that a new Bank of America Institute report, built from the bank’s internal account and card data, found household mobility kept declining in Q2 2026 across income groups and ages. The steepest drop was among lower-income households and Millennials, while higher-income customers also moved less than a year earlier.
The report said moving changes include a faster year over year decline in same-city moves, with longer-distance moves weaker overall than local moves. Gen Z was the only cohort with more movers than two years earlier, though activity has softened over the past year, and Gen X movers were down about 5% year over year and baby boomers were down about 4%.
For housing market activity, HousingWire noted that fewer moves can reduce for-sale and rental churn and slow household formation at the margins. The Institute also pointed to more reliance on home equity lines of credit, shifting renovation financing away from relocation-driven listings and toward HELOCs and refinancing.
Regionally, the report found domestic population growth is strongest in smaller and Midwestern metros and select Southern markets, while many of the largest coastal metros still saw net outflows. HousingWire said Salt Lake City ranked fastest overall in Q2 2026, the Midwest led with metro leaders including Indianapolis, Columbus, Louisville, Cincinnati and Milwaukee, and Birmingham’s population growth accelerated in Q2 2026.