Boston among top millennial destinations

The Boston-Cambridge-Newton metro area was named among the top 20 destinations for millennials who moved recently, according to a study from the National Association of Realtors based on U.S. Census data. In the report, NAR found the Boston area was home to a large share of people born between 1980 and 1998 — nearly 70 percent of the city’s newest residents fell within this age group as of 2017. But even that paled in comparison to cities like New Haven, Connecticut or Madison, Wisconsin, the top markets for millennial movers, each of which reported an average share of almost 80 percent. Across the 100 largest U.S. metros, millennials made up 54 percent of the crop of new residents, for comparison. For the purposes of the study, NAR defined “recent movers” as anyone who relocated to the area from out-of-state.

Millennials living in Boston in 2017 reported a high median annual income of more than $83,000, not to mention a low unemployment rate. But that economic strength could be a double-edged sword for young homebuyer prospects — only 19 percent of Boston area home listings are considered affordable for millennials earning the median income. That share falls to 13 percent for millennials who recently moved to Boston, who reported a median income of just over $75,000.

NRT names new president of Coldwell Banker in New England

NRT LLC, Coldwell Banker’s parent company, announced April 24 its appointment of Pauline Bennett to serve as president of Coldwell Banker in New England. Bennett previously served as president of Coldwell Banker Residential Brokerage in the Carolinas starting in 2015. While in that role, Bennett oversaw a Carolinas branch that doubled in size and increased profit margins. In 2018, she appeared on the cover of Housingwire Magazine as a Woman of Influence in the real estate industry.

“Pauline is truly an accomplished leader with a track record of success in recruiting top-producing agents while also growing operations and sales volume,” said Kate Rossi, regional executive vice president for NRT’s Eastern region. “She is a highly respected professional who has built an exceptional reputation among her colleagues and within the industry. Under Pauline’s leadership, I am confident that Coldwell Banker Residential Brokerage in New England is well positioned for continued growth as New England’s leading residential real estate company.”