Millennials may love San Diego because it’s, well, San Diego, but not many are buying homes here.
They’re more likely to buy in less expensive places, according to Ellie Mae, which follows their buying patterns through its Ellie Mae Millennial Tracker.
Its most recent data showed that Minneapolis — yes, cold, snowy Minneapolis — led all cities, with 44 percent of homebuyers being millennials.
Philadelphia came in second, with 43 percent and St. Louis followed at 42 percent.
Both Florida and California had the least popular cities, including San Diego. Here, 30 percent of homebuyers are millennials.
“As housing prices continue to rebound, Millennials are increasingly representing a higher percentage of homeowners in the middle of the country, where they can get more home for their money,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae.
Other studies have shown that San Diego is able to attract millennials but not keep them. Rising housing costs have been to blame.