Back to the Suburbs

Zillow is predicting that as affordability continues to worsen in city centers, 2016 will see more first-time homebuyers moving to the suburbs. Many will look to suburban areas with a city-feel: walkable cores and easy access to cities.

Moreover, rents are expected to continue to rise, particularly in the hot coastal markets which will further hasten the move to the suburbs.

Finally, home values are predicted to rise 3.5% in 2016 which will hamper many potential first-time buyers. It should also be noted that the median age of first-time homebuyers is expected to climb to its highest mark ever.

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