According to the report, 82 percent of homes purchased between July 2017 and June 2018 were single-family homes with three bedrooms, two bathrooms, sized at about 1,900 square feet, with a median sold price of $250,000. NAR VP of research Jessica Lautz tells Realtor.com, "All generations are pushed to the suburbs today for affordability and the types of amenities they're looking for," adding, "They're looking for places that are convenient to their jobs and friends and family and in the school district of choice."
More than half of buyers surveyed, 51 percent, flocked to the burbs. An additional 20 percent chose small towns, while 13 percent picked rural areas. That left just 14 percent of folks closing in urban areas—barely up from 13 percent the previous year. Millennials were the most likely to be city dwellers, at 17 percent, a slight increase from 15 percent last year.