Search for housing affordability drives growth in the suburbs

May 24, 2017

For many years, the industry expected millennials to gravitate toward cities, but that hasn’t necessarily been the case, as nearly 50% live in the suburbs and 20% live in rural areas, according to Zillow. Amid skyrocketing home prices, the suburbs typically offer more affordable housing opportunities.

And while most homebuyers — whether millennial, baby boomer or otherwise — crave walkability and close proximity to shopping and employment, recent data show that price and a desire to own a home will continue to trump those wishes.

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