It seems like trying to figure out the millennial generation’s next move is akin to hitting a moving target – we just can pin them down. Now we find that as millennials age, the oldest of the cohort have finally discovered the suburbs. In a recent post over on John Burns Real Estate Consulting we learn that the same people who drove urban demand from 2005–2015 are projected to “drive demand for surban housing in inner-ring suburbs, especially those in mature and slower-growing cities.” The article cites some of the reasons give as better schools, bigger yards (dogs & kids), neighborhood authenticity and higher-quality food options. Indeed…
“In the early 2000s, builders in Philadelphia successfully sold exurban homes to family buyers fleeing the city. Demand for these homes evaporated as Sharers delayed home purchases, choosing to live in places like gritty (yet trendy) Fishtown. Today, that glut of exurban move-up homes remains, and successful builders have shifted their focus to suburban infill neighborhoods in the “little towns” of the inner-ring suburbs.”
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