Far-flung suburbs losing favor with home buyers

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Buyers are more willing to bid above asking price in desirable suburbs close to the urban core

September 08, 2016
Far-flung suburbs losing favor with home buyers

Photo: Sam Beebe/Creative Commons.

Home buyers in the Washington D.C. area are more likely to find the city of Chevy Chase, Md., more appealing, while communities further away from the city are becoming less desirable. According to the Washington Post, buyers are more willing to bid above asking price in desirable suburbs close to the urban core such as Chevy Chase. Also, days-on-the-market rates have fallen sharply in the closer suburbs, while increasing in communities further out.

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