Suburban Housing Demand Falls as City Living Trends Upward

May 12, 2016

Just a decade ago, planned suburban communities outside of Washington, D.C. were idyllic. People wanted spacious, expensive houses, and the serene communities built around them offered jobs, great school systems, and new highways. 

Today, the price of a 6,000-square foot home in Lansdowne, Va., has dropped precipitously and is now worth as much as a rowhouse in Washington’s Trinidad neighborhood, an area formerly dealing with vacancies and crime, but whose prices are on the upswing.

The Washington Post reports that a variety of home seekers prefer cities over suburbs, citing public transit and easy walkability. Home prices are rising in cities, while the demand for suburban homes is dropping.

Washington is not alone, as cities like Boston, Seattle, and New York have seen similar trends.

Read more

Comments

expand_less