Everyone is getting into real estate; it was only a matter of time before children got in on the action. A new analysis from Zillow Research shows that neighborhoods with the highest proportion of children under 18 are seeing the fastest price growth in the nation. That may not come as a surprise to parents who are currently house-hunting, but the data is worth exploring further.
- Home prices grew close to 4% faster in areas with the highest concentrations of kids, suggesting that families are forming clusters in places where access to high-quality education and other resources are well established.
- Millennials, now the largest generation by far, are now reaching peak child-bearing and home-buying age simultaneously. That’s expected to drive up prices in family-oriented markets for the next several quarters.
Reading between the lines, the data also shows a deepening preference for the suburbs, which is mostly what we mean when we say “family-oriented market.” That could be a silver lining for singles and families that plan on buying in cities, as the most rapid price growth should be concentrated in suburbs for years to come.
Read more at Marketwatch: Home Prices Climbing in Family-Friendly Areas