In a recent Trulia article, Chief Economist Jed Kolko wrote about an interesting housing trend. You might think that Baby Boomers tend to downsize and buy a nice, smaller home in the suburbs. You might also think the average Millenial is purchasing a sleek, modern space downtown. You’d be wrong on both counts. Current population estimates released by the US Census this month would point to the opposite. Boomers are living large in urban areas and Millenials are choosing the ‘burbs.
Baby Boomers (50-69 year olds) are still living in suburbs, but that number is only slightly higher than the amount of Boomers living in urban areas, which has begun to grow significantly in recent years. Millenials (20-34 year olds) however are tending to purchase homes in low-density suburbs or much smaller cities.
Whether you’re a Boomer or a Millenial (or something in between) we’d love to help you find your perfect home in the Reno area. Give us a call at 775-453-4568.