Infographic: How Millennials are Changing the Housing Market
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How Millennials are Changing the Housing Market

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In the next five years, a whopping 66.1% of millennials are expecting to buy homes.

That kind of demand from the largest generation in American history certainly doesn’t go unnoticed – and it’s enough that it will help to shape the direction of the real estate industry itself.

Thinking Different

Each generation is different, so it’s no surprise that millennials have their own set of unique attitudes towards home buying.

Today’s infographic from Nationwide Mortgages takes a look at some of these differentiating factors, and provides some insight into how these preferences will create the drivers that ultimately affect the market as a whole.

How Millennials are Changing the Housing Market

It’s clear millennials are approaching the housing market in their own way that makes them unique from past generations. But what is it specifically that differentiates millennials in their attitudes and behaviors towards real estate?

Why Millennials Are Unique

As a group that grew up in the iPhone era, it’s obvious to say that millennials prefer to approach home buying in a more digital fashion, but they actually have other differences with Gen X and the Boomers that go much deeper.

To start, millennials much prefer to trust real estate agents than other generations. Only 8% of millennials did not use a realtor for their home purchases, while 13% of younger Boomers and 15% of older Boomers could say the same. Whether this is because of a lack of experience in the market, or because different attitudes towards agents, it’s hard to say.

Next, millennials associate buying a house with the American Dream at a higher rate (65.3%) than other groups. They do so even more than the Silent Generation (63.9%) – the group that grew up during World War II, and reaped the benefits of the post-war economic and housing booms.

Lastly, there are some other areas where millennials just have different preferences and attitudes towards owning a home. For example, they are less likely to define homeownership as permanent (11%), and consider their purchase only as a stepping stone towards the house they want (68% for millennials vs. 36% for all buyers). On top of that, they want very specific features in any home they buy – including things like new appliances, energy efficiency, big kitchens, home office space, proximity to work, and new technology in their homes.

Though some of the things that millennials want are treasured by other generations as well, millennials are having an impact on the industry just by the nature of their growing influence on the market. And for anyone that’s selling a house or making investments in real estate, this is a factor that should be taken into account.

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30 Years of Gun Manufacturing in America

The U.S. has produced nearly 170 million firearms over the past three decades. Here are the numbers behind America’s gun manufacturing sector.

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gun manufacturing in america

30 Years of Gun Manufacturing in America

While gun sales have been brisk in recent years, the uncertainty surrounding COVID-19 was a boon for the gun industry.

From 2010-2019, an average of 13 million guns were sold legally in the U.S. each year. In 2020 and 2021, annual gun sales sharply increased to 20 million.

While the U.S. does import millions of weapons each year, a large amount of firearms sold in the country were produced domestically. Let’s dig into the data behind the multi-billion dollar gun manufacturing industry in America.

Gun Manufacturing in the United States

According to a recent report from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the U.S. has produced nearly 170 million firearms over the past three decades, with production increasing sharply in recent years.

firearms per 100000 persons

America’s gunmakers produce a wide variety of firearms, but they’re generally grouped into five categories; pistols, rifles, shotguns, revolvers, and everything else.

Below is a breakdown of firearms manufactured in the country over the past 30 years, by type:

Year     PistolsRiflesRevolversShotgunsMisc. FirearmsTotal Firearms
19891,404,7531,407,400628,573935,54142,1264,418,393
19901,371,4271,211,664470,495848,94857,4343,959,968
19911,378,252883,482456,966828,42615,9803,563,106
19921,669,5371,001,833469,4131,018,20416,8494,175,836
19932,093,3621,173,694562,2921,144,94081,3495,055,637
19942,004,2981,316,607586,4501,254,92610,9365,173,217
19951,195,2841,411,120527,6641,173,6458,6294,316,342
1996987,5281,424,315498,944925,73217,9203,854,439
19971,036,0771,251,341370,428915,97819,6803,593,504
1998960,3651,535,690324,390868,63924,5063,713,590
1999995,4461,569,685335,7841,106,99539,8374,047,747
2000962,9011,583,042318,960898,44230,1963,793,541
2001626,8361,284,554320,143679,81321,3092,932,655
2002741,5141,515,286347,070741,32521,7003,366,895
2003811,6601,430,324309,364726,07830,9783,308,404
2004728,5111,325,138294,099731,76919,5083,099,025
2005803,4251,431,372274,205709,31323,1793,241,494
20061,021,2601,496,505385,069714,61835,8723,653,324
20071,219,6641,610,923391,334645,23155,4613,922,613
20081,609,3811,734,536431,753630,71092,5644,498,944
20091,868,2582,248,851547,195752,699138,8155,555,818
20102,258,4501,830,556558,927743,37867,9295,459,240
20112,598,1332,318,088572,857862,401190,4076,541,886
20123,487,8833,168,206667,357949,010306,1548,578,610
20134,441,7263,979,570725,2821,203,072495,14210,844,792
20143,633,4543,379,549744,047935,411358,1659,050,626
20153,557,1993,691,799885,259777,273447,1319,358,661
20164,720,0754,239,335856,291848,617833,12311,497,441
20173,691,0102,504,092720,917653,139758,6348,327,792
20183,881,1582,880,536664,835536,1261,089,9739,052,628
20193,046,0131,957,667580,601480,735946,9297,011,945
Total60,804,84059,796,76015,826,96426,241,1346,298,415168,968,113

Pistols (36%) and rifles (35%) are the dominant categories, and over time, the former has become the most commonly produced firearm type.

In 2001, pistols accounted for 21% of firearms produced. Today, nearly half of all firearms produced are pistols.

Who is Producing America’s Firearms?

There are a wide variety of firearm manufacturing companies in the U.S., but production is dominated by a few key players.

Here are the top 10 gunmakers in America, which collectively make up 70% of production:

RankFirearm ManufacturerGuns Produced (2016-2020)Share of total
1Smith & Wesson Corp8,218,19917.2%
2Sturm, Ruger & Company, Inc8,166,44817.1%
3Sig Sauer Inc3,660,6297.7%
4Freedom Group3,045,4276.4%
50 F Mossberg & Sons Inc2,223,2414.7%
6Taurus International Manufacturing1,996,1214.2%
7WM C Anderson Inc1,816,6253.8%
8Glock Inc1,510,4373.2%
9Henry RAC Holding Corp1,378,5442.9%
10JIE Capital Holdings / Enterprises1,258,9692.6%
Total33,274,64069.7%

One-third of production comes from two publicly-traded parent companies: Smith & Wesson (NYSE: RGR), and Sturm, Ruger & Co. (NASDAQ: SWBI)

Some of these players are especially dominant within certain types of firearms. For example:

  • 58% of pistols were made by Smith & Wesson, Ruger, and SIG SAUER (2008–2018)
  • 45% of rifles were made by Remington*, Ruger, and Smith & Wesson (2008–2018)

*In 2020, Remington filed for Chapter 11 bankruptcy protection, and its assets were divided and sold to various buyers. The Remington brand name is now owned by Vista Outdoor (NYSE: VSTO)

The Geography of Gun Manufacturing

Companies that manufacture guns hold a Type 07 license from the ATF. As of 2020, there are more than 16,000 Type 07 licensees across the United States.

Below is a state-level look at where the country’s licensees are located:

StateLicenses (2000)Licenses (2020)PopulationLicenses per 100,000 pop. (2020)
Alaska8117733,39116.0
Alabama402765,039,8775.5
Arkansas283023,011,52410.0
Arizona1009597,276,31613.2
California15962039,237,8361.6
Colorado274815,812,0698.3
Connecticut711943,605,9445.4
Delaware010989,9481.0
Florida1311,00921,781,1284.6
Georgia5251010,799,5664.7
Hawaii0111,455,2710.8
Iowa111873,190,3695.9
Idaho383581,839,10619.5
Illinois4026312,671,4692.1
Indiana392806,805,9854.1
Kansas172292,937,8807.8
Kentucky222114,505,8364.7
Louisiana202584,657,7575.5
Massachusetts672636,984,7233.8
Maryland361466,165,1292.4
Maine131071,362,3597.9
Michigan4338610,050,8113.8
Minnesota632545,707,3904.5
Missouri624016,168,1876.5
Mississippi121902,961,2796.4
Montana242401,084,22522.1
North Carolina5262810,551,1626.0
North Dakota346779,0945.9
Nebraska15911,961,5044.6
New Hampshire251881,377,52913.6
New Jersey10269,267,1300.3
New Mexico181792,117,5228.5
Nevada452763,104,6148.9
New York3529919,835,9131.5
Ohio8064411,780,0175.5
Oklahoma374233,959,35310.7
Oregon552264,237,2565.3
Pennsylvania8751912,964,0564.0
Rhode Island1201,097,3791.8
South Carolina252845,190,7055.5
South Dakota1479886,6678.9
Tennessee763526,975,2185.0
Texas1502,02229,527,9416.8
Utah334783,271,61614.6
Virginia484128,642,2744.8
Vermont1585643,07713.2
Washington493517,738,6924.5
Wisconsin383065,895,9085.2
West Virginia201151,793,7166.4
Wyoming20147576,85125.5

These manufacturers are located all around the country, so these numbers are somewhat reflective of population. Unsurprisingly, large states like Texas and Florida have the most licensees.

Sorting by the number of licensees per 100,000 people offers a different point of view. By this measure, Wyoming, Montana, and Idaho come out on top.

If recent sales and production trends are any indication, these numbers may only continue to grow.

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Made in America: Goods Exports by State

The U.S. exported $1.8 trillion worth of goods in 2021. This infographic looks at where that trade activity took place across the nation.

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Made in America: Goods Exports by State

After China, the U.S. is the next largest exporter of goods in the world, shipping out $1.8 trillion worth of goods in 2021—an increase of 23% over the previous year.

Of course, that massive number doesn’t tell the whole story. The U.S. economy is multifaceted, with varying levels of trade activity taking place all across the nation.

Using the latest data on international trade from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, we’ve visualized the value of America’s goods exports by state.

Top 10 Exporter States

Here are the top 10 American states that exported the highest dollar value worth of goods during 2021. Combined, these export-leading states represent 59.4% of the nation’s total exports.

RankStateTotal Exports Value% share
#1Texas$375.3 billion21.4%
#2California$175.1 billion10.0%
#3New York$84.9 billion 4.8%
#4Louisiana $76.8 billion4.4%
#5Illinois$65.9 billion3.8%
#6Michigan$55.5 billion3.2%
#7Florida$55.5 billion3.2%
#8Washington$53.6 billion3.1%
#9Ohio$50.4 billion2.9%
#10New Jersey$49.5 billion2.8%
Top 10 States$1.04 trillion59.4%

Texas has been the top exporting state in the U.S. for an incredible 20 years in a row.

Last year, Texas exported $375 billion worth of goods, which is more than California ($175 billion), New York ($85 billion), and Louisiana ($77 billion) combined. The state’s largest manufacturing export category is petroleum and coal products, but it’s also important to mention that Texas led the nation in tech exports for the ninth straight year.

California was the second highest exporter of goods in 2021 with a total value of $175 billion, an increase of 12% from the previous year. The state’s main export by value was computer and electronic product manufacturing, representing 17.8% of the total U.S. exports of that industry. California was also second among all states in exports of machinery manufacturing, accounting for 13.9% of the U.S. total.

What Type of Goods are Exported?

Here is a breakdown of the biggest U.S. export categories by value in 2021.

RankProduct GroupAnnual Export Value (2021)Share of Total Exports
1Mineral fuels including oil$239.8 billion13.7%
2Machinery including computers$209.3 billion11.9%
3Electrical machinery, equipment$185.4 billion10.6%
4Vehicles$122.2 billion7.0%
5Optical, technical, medical apparatus$91.7 billion5.2%
6Aircraft, spacecraft$89.1 billion5.1%
7Gems, precious metals $82.3 billion4.7%
8Pharmaceuticals$78 billion4.4%
9Plastics, plastic articles$74.3 billion4.2%
10Organic chemicals$42.9 billion2.4%

These top 10 export categories alone represent almost 70% of America’s total exports.

The biggest grower among this list is mineral fuels, up by 59% from last year. Pharmaceuticals saw the second biggest one-year increase (45%).

Top 10 U.S. Exports by Country of Destination

So who is buying “Made in America” products?

Unsurprisingly, neighboring countries Canada (17.5%) and Mexico (15.8%) are the two biggest buyers of American goods. Together, they purchase one-third of American exports.

RankDestination CountryShare of U.S. Goods Exports
1🇨🇦 Canada17.5%
2🇲🇽 Mexico15.8%
3🇨🇳 China8.6%
4🇯🇵 Japan4.3%
5🇰🇷 South Korea3.7%
6🇩🇪 Germany3.7%
7🇬🇧 United Kingdom3.5%
8 🇳🇱 Netherlands3.1%
9🇧🇷 Brazil2.7%
10🇮🇳 India2.3%

Three Asian countries round out the top five list: China (8.6%), Japan (4.3%), and South Korea (3.7%). Together, the top five countries account for around half of all goods exports.

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